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Deere: Wall Street Stock Recommendations after Q1 Earnings

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Analysts’ recommendations prior to fiscal 1Q17 earnings

Before Deere (DE) announced its fiscal 1Q17 earnings, 22 brokerage firms were actively tracking Deere stock. About 36% of analysts recommended a “buy” for the stock, 46% of analysts recommended a “hold,” and 18% recommended a “sell.”

After fiscal 1Q17 earnings

After Deere’s fiscal 1Q17 earnings release, there were no changes in analysts’ recommendations for the stock. However, analysts’ consensus 12-month target price rose to $105.85, compared to $102.65 before the earnings release. This target implies return potential of -4.0% based on the stock’s closing price of $110.27 on February 17, 2017.

Recommendations and targets

  • On February 21, 2017, Deutsche Bank (DB) provided Deere’s target price at $121. This price implies a 12-month return of 9.7% based on the closing price of $110.27 as of February 17, 2017.
  • On February 20, 2017, Barclays (BCS) rated Deere as “Underweight” with a target price of $80. This price implies a 12-month return of -27.5% based on the closing price of $110.27 on February 17, 2017.
  • On February 16, 2017, J.P. Morgan (JPM) announced Deere’s target price at $82. This price implies a 12-month potential return of -25.6% based on the closing price of $110.27 as of February 17, 2017.

Investors can invest in the First Trust Indxx Global Agriculture ETF (FTAG) to access Deere indirectly. The fund invested 4.5% of its portfolio in Deere as of February 17, 2017.

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