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Riding High: Deere Had a Stellar Performance in 2Q17

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Part 5
Riding High: Deere Had a Stellar Performance in 2Q17 PART 5 OF 5

Deere: Analysts’ Recommendations after Its 2Q17 Earnings

Analysts’ recommendations

As of May 22, 2017, 23 brokerage firms were actively tracking Deere (DE) stock. About 39.0% of the analysts recommended a “buy” for the stock, 43.0% recommended a “hold,” and 18.0% recommended a “sell.”

Deere: Analysts&#8217; Recommendations after Its 2Q17 Earnings

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Analysts’ consensus indicates a 12-month target price of $112.10 for Deere, which implies a return potential of -1.5% based on its closing price of $113.80 on May 15, 2017.

Most analysts recommended a “buy” or “hold”

After Deere posted better-than-expected revenue and earnings in fiscal 2Q17 and a higher sales projection for equipment, most of the analysts recommended a “buy” or a “hold” for Deere.

Target prices

Below are some recommended target prices for Deere from well-known brokerage firms:

  • Credit Suisse (CS) raised Deere’s target price to $151, which implies a 12-month return of 24.0% based on the closing price of $121.71 on May 22, 2017.
  • Barclays (BCS) rated Deere as “underweight” with a target price of $90, which implies a 12-month return of -26.0% based on the closing price of $121.71 as of May 22, 2017.
  • Stifel rated Deere as a “buy” with a target price of $135, which implies a 12-month potential return of 10.9% based on the closing price of $121.71 as of May 22, 2017.
  • BOFA Merrill raised Deere’s target price to $145, which implies a 12-month return of 19% based on the closing price of $122.71 as of May 22, 2017.

You can invest in the First Trust Indxx Global Agriculture ETF (FTAG) to hold Deere indirectly. The fund has invested 5.0% in Deere. The fund’s other top holdings include Dow Chemical (DOW) and DuPont (DD) with weights of 9.8% and 9.8%, respectively, as of May 22, 2017.

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