Shares of DowDuPont were rising Wednesday after UBS initiated coverage of the stock with a buy rating and a price target of $45. 

The stock was rising 2.82% to $37.53 a share. 

The price target from UBS analyst John Roberts represents roughly 20% upside from the stock's current level. 

Roberts thinks Wall Street consensus for 2020 EBITDA (earnings before interest, taxes, depreciation and amortization) of $19.57 billion is too low, given the industrial giant's planned spinoff of its agricultural division Corteva Agriscience, set for June.

DowDuPont just completed its spinoff of Dow Inc. (DOW) - Get Report , its materials science division. In 2015, DowDuPont spun off Chemours, a chemicals manufacturer, currently worth $6.4 billion.

DowDuPont was replaced as a Dow Jones Industrial Average component by Dow Inc. before the start of trading Tuesday. 

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