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Analysts Raise Deere’s Target Price after 4Q17

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Analysts’ ratings after 4Q17

As of November 22, 2017, 22 analysts were tracking Deere (DE), of which 41% have recommended “buy” (versus 31% prior to Deere’s 4Q17 earnings announcement), 55% have recommended “hold,” and 4% have recommended “sell.” Analysts’ consensus target price for Deere is $142.84. Deere closed at $145.25 on November 22, 2017. Most analysts may be recommending “buy” or “hold” due to Deere’s better-than-expected fiscal 4Q17 earnings and the Wirtgen Group acquisition.

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Brokerage updates

  • Credit Suisse (CS) has maintained its “outperform” rating for Deere and revised its target price to $162, which implies a potential return of 11.5% based on its closing price of $145.25 on November 22, 2017.
  • Jefferies has rated Deere as “hold” and set a target price of $150, which implies a potential return of 3.3% based on its closing price of $145.25 on November 22, 2017.

Investors can get indirect exposure to Deere by opting for the VanEck Vectors Natural Resources ETF (HAP), which has invested 6.8% of its portfolio in Deere. The fund also provides exposure to Monsanto (MON), ExxonMobil (XOM), and PotashCorp (POT), of 7.7%, 4.1%, and 2.4%, respectively.

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