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UPDATE: Jefferies Raises PT to $70 on Deere & Company on Fiscal 2013 Outlook

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Jefferies reiterated its Hold rating on Deere & Company (NYSE: DE) but increased its price target from $70 to $80.

Jefferies noted, "We provide our updated model following DE's F4Q EPS report. Our FY13E is tweaked from $8.00 to $8.25, and our price target goes from $70 to $80 as we roll the target to CY13 mid cycle multiples. Despite good execution, we continue our HOLD rating as DE is going through a significant investment cycle against a backdrop of flattish overall revenues."

Deere & Company closed at $85.99 on Wednesday.

Posted-In: JefferiesAnalyst Color Price Target Pre-Market Outlook Analyst Ratings

 

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