Barclays Stays Bullish on Deere Ahead of Earnings; Expects Raised Guidance (DE)

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Farming and construction equipment maker Deere & Company ( DE ) late Monday caught some further bullish commentary from analysts at Barclays Capital.

The firm maintained its "Overweight" rating on DE as well as its $101 price target, which suggests a nearly 31% upside to the stock's Monday closing price of $77.33.

A Barclays analyst commented, "Deere remains one of our preferred Machinery names ahead of its FY2Q earnings report this week, and while expectations seem relatively high into the quarter, we think the company is poised to report a generally solid result and outlook."

Deere shares closed down $1.74, or -2.2%, in Monday trading.

The Bottom Line
Shares of Deere & Co. ( DE ) have a 2.38% dividend yield, based on today's closing stock price of $77.33. The stock has technical support in the $70-$73 price area. If the shares can firm up, we see overhead resistance around the $83-$85 price levels.

Deere & Company ( DE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: DE

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