Farm and construction equipment maker Deere & Company (
) on Friday saw its "Buy" rating reiterated by analysts at
Jefferies & Co. ahead of next week's earnings report.
The firm also backed its $110 price target DE, which suggests a
22% upside to the stock's Thursday closing price of $90.36.
A Jefferies analyst commented, "DE is known for conservative
guidance, and we expect that similar to other companies in the
quarter, DE is likely to only raise guidance by the quarterly beat.
Given a Q3 C&F shutdown for SAP transition, Japan impact,
commodity cost volatility, iT4 transition costs, and higher
R&D. DE could raise its European A&T end market forecast
given a strong start to the year, but given consensus already 6%
over guidance, we believe guidance is unlikely to exceed the
Deere is slated to report its second quarter earnings on the
morning of May 18. DE shares were mostly flat in premarket trading
The Bottom Line
Shares of Deere (
) have a 1.55% dividend yield, based on last night's closing stock
price of $90.36. The stock has technical support in the $85-$87
price area. The shares are trading near all-time highs of $97-$100
Deere & Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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