Deere & Co.’s Target, Estimates Boosted at Jefferies (DE)

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Analysts at Jefferies & Co. on Friday raised their earnings estimates for farming and construction equipment maker Deere & Company ( DE ).

The firm said it maintained its "Hold" rating on DE but lifted its price target to $80. That new target suggests a 7% upside to the stock's Wednesday closing price of $74.72.

Jefferies also boosted its earnings estimates for the company through 2012, noting DE recently raised its own earnings guidance.

Deere & Company shares posted modest gains in premarket trading Friday.

The Bottom Line
Shares of Deere & Co. ( DE ) have a 2.19% dividend yield, based on Wednesday's closing stock price of $74.72. The stock has technical support in the $67-$69 price area. If the shares can firm up, we see overhead resistance around the $78 price level.

Deere & Company ( DE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 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 Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: DE


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