Deutsche Bank Initiates Coverage on Deere & Company (DE)
Analysts at Deutsche Bank assumed coverage on shares of Deere & Company (NYSE:DE) in a research report issued to clients and investors on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $110.00 price target on the stock. Deutsche Bank’s target price would suggest a potential upside of 29.89% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Deere & Company in a research note on Thursday, February 13th. They now have a $91.00 price target on the stock. Separately, analysts at UBS AG raised their price target on shares of Deere & Company to $75.00 in a research note on Thursday, February 13th. They now have a “sell” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Deere & Company from $93.00 to $101.00 in a research note on Monday, January 13th. They now have an “overweight” rating on the stock. Seven equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $89.87.
Shares of Deere & Company (NYSE:DE) opened at 84.69 on Thursday. Deere & Company has a 52 week low of $79.50 and a 52 week high of $93.88. The stock has a 50-day moving average of $87. and a 200-day moving average of $85.00. The company has a market cap of $31.310 billion and a P/E ratio of 9.18.
Deere & Company (NYSE:DE) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $1.81 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.52 by $0.29. The company had revenue of $7.65 billion for the quarter, compared to the consensus estimate of $6.62 billion. During the same quarter in the prior year, the company posted $1.65 earnings per share. The company’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Deere & Company will post $8.41 earnings per share for the current fiscal year.
Deere & Company (NYSE:DE) along with its subsidiaries, operates in three segments: agriculture and turf, construction and forestry and financial services.
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