Deere Gets Price Target Cuts By Analysts After Q2 Results

Deere & Company DE reported better-than-expected second-quarter financial results.

Deere reported second-quarter net sales and revenue growth of 30% year-on-year to $17.39 billion, beating the consensus of $14.83 billion. The EPS of $9.65 surpassed the consensus of $8.59.

Deere shares fell 1.9% to close at $363.55 on Friday and lost 0.2% in today’s pre-market trading session.

These analysts made changes to their price targets on Deere following earnings announcement.

• B of A Securities cut the price target on Deere from $484 to $416. B of A Securities analyst Ross Gilardi maintained a Neutral rating.
• Wells Fargo slashed the price target on Deere from $510 to $490.. Wells Fargo analyst Seth Weber maintained an Overweight rating
• Baird lowered Deere price target from $512 to $445. B Baird analyst Mircea Dobre maintained an Outperform rating.
• Stifel cut Deere price target from $500 to $493. Stifel analyst Stanley Elliott maintained a Buy rating.
• Morgan Stanley lowered the price target from $537 to $517. Morgan Stanley analyst Dillon Cumming maintained Deere with an Overweight.

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