These Analysts Revise Their Forecasts On Deere After Q3 Results

Deere & Co DE reported better-than-expected earnings for its third quarter.

Deere reported third-quarter net sales and revenue growth of 12% Y/Y to $15.80 billion, beating the consensus of $14.25 billion. EPS of $10.20 surpassed the consensus of $8.20.

Deere raised its FY23 outlook for net income to $9.75 billion-$10.00 billion from $9.25 billion-$9.50 billion.

Deere shares fell 5.3% to close at $397.02 on Friday but added 0.3% in today’s pre-market trading session.

These analysts made changes to their price targets on Performance Food Group following earnings announcement.

• JP Morgan lowered the price target on Deere from $390 to $380. JP Morgan analyst Tami Zakaria maintained a Neutral rating.
• Credit Suisse slashed the price target on Deere from $560 to $551. Credit Suisse analyst Jamie Cook maintained an Outperform rating.
• UBS raised the price target on Deere from $383 to $408. UBS analyst Steven Fisher maintained a Neutral rating.

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