Deere’s Target and Estimates Cut at Credit Suisse; European Weakness Persists (DE)

By Staff,

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Farming and construction equipment maker Deere & Company ( DE ) on Thursday saw its price target and earnings estimates lowered by analysts at Credit Suisse.

The firm maintained its "Outperform" rating on DE but cut its price target to $86, suggesting a smaller 30% upside to the stock's Wednesday closing price of $66.16.

Credit Suisse also lowered its earnings estimates, citing recent European channel checks that indicated a slowdown in orders.

Deere shares posted modest gains in premarket trading Thursday.

The Bottom Line
Shares of Deere & Co. ( DE ) have a 2.48% dividend yield, based on last night's closing stock price of $66.16. The stock has technical support in the $61-$62 price area. If the shares can firm up, we see overhead resistance around the $70-$75 price levels.

Deere & Company ( DE ) is not recommended at this time, holding a 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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