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


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Construction and farm machinery maker Deere & Company ( DE ) on Tuesday saw its price target and earnings estimates boosted by analysts at Jefferies & Co.

The firm reiterated its "Buy" rating on DE while lifting its price target to $105. That new target suggests a nearly 11% upside to the stock's Monday closing price of $94.76.

Jefferies also raised its earnings estimates for the company through 2012, citing continued recovery in agriculture demand.

Deere shares were mostly flat in premarket trading Tuesday.

The Bottom Line
We have been recommending shares of Deere [[DE] since Dec.7, 2010, when the stock was trading at $79.04. The company has a 1.48% dividend yield, based on last night's closing stock price of $94.76.

Deere & Company ( DE ) is a "Recommended" dividend stock, holding a DARS™ Rating of 3.5 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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