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Shares of DuPont (DD) - Get DuPont de Nemours, Inc. Report  were higher Friday after the industrial giant won a strong vote of confidence from an industry analyst.

DuPont's stock price jumped 0.22% to $68.27 after Melius Research initiated coverage of the industrial materials maker with an overweight rating, according to published reports.

Analysts at Melius contend DuPont's stock price is nearing a bottom, with negatives that have been dragging it down already baked into the current valuation. The report sees significant upside for the industrial giant stemming from its product lineup and cost control efforts.

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The boost from Melius comes as DuPont makes some big changes to its lineup of products and business units.

DuPont inked a deal on Thursday with Evoqua Water Technologies to acquire the Memcor line, including ultrafiltration and membrane biofiltration technologies.

DuPont is also exploring a potential sale of its nutrition and biosciences unit in a deal that could be worth more than $20 billion, Bloomberg recently reported.