UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Deere & Company
In a report published Friday, Jefferies & Company reiterated its Hold rating on Deere & Company (NYSE: DE), and raised its price target from $70.00 to $80.00.
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 on Wednesday at $85.99.
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