Deere Shares Upgraded After Earnings Beat (DE)

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Argus Research has boosted his price target on shares of Deere ( DE ) from $76 to $88 and has reiterated its buy rating.

The firm said Deere's quarterly report was "much better than we expected and sees continued strong results in fiscal 2011." Argus moved its 2011 earnings estimates from $4.85 to $4.95 and set a 2012 estimate of $5.30.

The Bottom Line
Shares of Deere & Co. ( DE ) have a 1.57% dividend yield, based on Wednesday's closing stock price of $76.23. The stock has technical support in the $69-$70 price area. If the shares can firm up, we see overhead resistance around the $79-$81 price levels.

Deere & Company ( DE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 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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