Goldman Sachs Raises PT on Deere & Co to $82
Goldman Sachs has published a research report on Deere & Co. (NYSE: DE) commenting on the company's more aggressive approach to pricing and execution.
In the report, Goldman Sachs writes, "We are constructive on Deere's more aggressive approach to pricing, sharply improved execution on product transitions, and potential for share gains. However, we continue to believe Deere's core North America ag equipment market has limited cyclical upside due to flattening farmer income, limited acreage additions, and record capital stock. We do see potential for near-term outperformance following what we estimate as 10% multiple contraction vs. Machinery on Wednesday."
Goldman Sachs maintains its Neutral rating and has raised the price target from $72 to $82 on Deere & Co., which closed Wednesday at $74.72.
