Deere Gets Price Target Bumps By Analysts After Upbeat Q1 Results

Deere & Company DE reported better-than-expected Q1 results.

Deere reported fiscal first-quarter earnings of $6.55 per share, beating analysts’ estimates of $5.56 per share. The company’s quarterly sales came in at $12.65 billion exceeding market expectations of $11.28 billion.

Deere shares jumped 7.5% to close at $433.31 on Friday and lost 0.8% in today’s pre-market trading session.

These analysts made changes to their price targets on Deere following the release of results.

• Bernstein raised the price target on Deere from $364 to $398. Bernstein analyst Chad Dillard maintained a Market Perform rating.
• Baird boosted the price target on Deere from $500 to $512. Baird analyst Mircea Dobre maintained an Outperform rating.
• Wells Fargo increased the price target on Deere from $485 to $510. Wells Fargo analyst Seth Weber maintained an Overweight rating.