Jefferies maintains its Hold rating on Deere DE and raises its price target to $85 from $83 following a solid fourth quarter.
Jefferies says, "DE reported F4Q EPS of $1.30, ~$0.05 better than consensus on better than expected A&T margins. FY12 guidance tweaked slightly upward, but the NA market forecast seems aggressive to us."
DE closed at $84.28 a share on Wednesday.
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