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A number of firms have modified their ratings and price targets on shares of Deere & Company (NYSE: DE) recently:

  • Deere & Company had its “overweight” rating reaffirmed by analysts at Barclays. They now have a $101.00 price target on the stock.
  • Deere & Company was downgraded by analysts at Longbow Research from a “neutral” rating to an “underperform” rating. They now have a $80.00 price target on the stock. They wrote, “While we expected 1HF2014 to hold up based on 2013 orders and farm income, demand has clearly begun to deteriorate leading to likely more significant weakness both in North America and globally in F2H14 and F2015 than expected.”
  • Deere & Company had its “sell” rating reaffirmed by analysts at Goldman Sachs.
  • Deere & Company had its price target raised by analysts at Credit Suisse from $102.00 to $104.00. They now have an “outperform” rating on the stock.
  • Deere & Company had its price target raised by analysts at William Blair from $75.00 to $80.00.
  • Deere & Company had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $96.00 price target on the stock. Zacks‘ analyst wrote, “We reiterate our Neutral recommendation on Deere with a target price of $96. Deere’s second-quarter 2014 earnings declined 4% year over year to $2.65 per share. For fiscal 2014, Deere expects a 4% decline in equipment sales. Deere expects net income of $3.3 billion for fiscal 2014. Given the increased global demand for food, shelter and infrastructure, we believe that the long-term outlook for Deere remains strong. Meanwhile in the near term, even though net farm income remains at high levels, farmer sentiments regarding capital goods purchases are becoming more conservative due to lower commodity prices. Deere will nevertheless benefit from recovery in the construction sector and stabilization in the European economy.”

Shares of Deere & Company (NYSE:DE) opened at 89.95 on Wednesday. Deere & Company has a one year low of $79.50 and a one year high of $94.89. The stock has a 50-day moving average of $92.68 and a 200-day moving average of $88.28. The company has a market cap of $32.724 billion and a price-to-earnings ratio of 9.91.

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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