UPDATE: Jefferies Color on Deere & Company Downgrade

Loading...
Loading...
Jefferies, which
downgraded
shares of Deere & Company
DE
, is providing some color on the stock. “We believe farm fundamentals remain strong, but DE appears to have limited additional volume and margin upside this cycle in its North American ag business,” Jefferies writes. “We lower our target multiples from peak to simply top half of cycle averages, consistent with a slowing growth outlook. Still elevated crop prices and growth in construction should help provide downside protection from current levels. “We prefer AGCO Corporation
AGCO
with much more exposure to Europe and where we see additional margin upside.” Deere & Company closed Wednesday at $86.50.
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorAnalyst RatingsAGCO CorporationConstruction & Farm Machinery & Heavy Trucksdeere & companyIndustrialsJefferies
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...