According to Goldman Sachs, Deere & Co DE is trading at 6.9X 2012E EV/EBITDA and 11.7X P/E, premiums of 6%/ 3% to Machinery peers.
Goldman Sachs said that it reduces its 2011-13E EPS by an average of 3% to $6.30/$7.45/$8.65. “We reduce our 12-month price target to $104 (was $109) based on an unchanged target multiple of 8X 2012E EV-EBITDA (11.7X P/E) on our lower estimates. DE is trading at 6.9X 2012E EV/EBITDA and 11.7X P/E, premiums of 6%/ 3% to Machinery peers.”
Deere & Co closed yesterday at $86.50.
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Posted In: Analyst ColorAnalyst RatingsConstruction & Farm Machinery & Heavy TrucksDeere & Co.Goldman SachsIndustrials
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