Wells Fargo Maintains Overweight Rating for Deere: Here's What You Need To Know

Wells Fargo has decided to maintain its Overweight rating of Deere DE and lower its price target from $510.00 to $490.00.

Shares of Deere are trading down 1.55% over the last 24 hours, at $357.91 per share.

A move to $490.00 would account for a 36.91% increase from the current share price.

About Deere

Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through an extensive dealer network, which includes over 2,000 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.