Farming and construction equipment maker Deere & Company (
) caught some tepid commentary from two major Wall Street firms
its disappointing third quarter earnings report
UBS maintained its "Buy" rating on DE but lowered its earnings
estimates through 2013, given Deere's weak Q3 results. Still, UBS
has a $100 price target on DE, which suggests a massive 33% upside
to the stock's Wednesday closing price of $75.10.
Meanwhile, Credit Suisse cut its own estimates on Deere, citing
the company's weakened guidance. The analyst still rates DE an
"Outperform," but lowered its price target to $90.
Deere shares posted small losses in morning trading
The Bottom Line
Shares of Deere & Company (
) have a 2.45% dividend yield, based on last night's closing stock
price of $75.10. The stock has technical support in the $71-$72
price area. If the shares can firm up, we see overhead resistance
around the $80-$82 price levels.
Deere & Company (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.3 out of 5 stars.
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, as well as a detailed explanation of
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