Market Overview

Agriculture Equipment Likely to Lose Demand in 2014, According To Wells Fargo Analyst

Share:
Related DE
Caterpillar Vs. Deere: Who Wins?
Deere Shrugs Off Baird Downgrade
Why Deere (DE) Could Be a Top Value Stock Pick - Tale of the Tape (Zacks)
Related AGCO
Top 4 NYSE Stocks In The Farm & Construction Machinery Industry With The Highest Revenue
General Electric, Tyco And Others Insiders Have Been Buying

Andrew Casey, an analyst at Wells Fargo, is growing more and more bearish on agriculture equipment next year, based on a likely decrease in cash flow among farmers.

Casey went on to say that he believes commodity prices will come down in price soon too, specifically citing that corn may be closer to $4.25/bu, rather the current $7/bu that it is now.

Because of the expected lower demand, Deere (NYSE: DE) has been slashed to underperform from market perform with a price target of $72-75 from $90-93. AGCO Corp. (NYSE: AGCO) was also cut to underperform from market perform and had its price target lowered to $40-43 from $51-54.

Both Deere and AGCO Corp. are positive on the year, up 4.8 percent and 8.1 percent, respectively.

Latest Ratings for DE

DateFirmActionFromTo
May 2015BairdDowngradesOutperformNeutral
May 2015JP MorganDowngradesNeutralUnderweight
Feb 2015UBS

View More Analyst Ratings for DE
View the Latest Analyst Ratings

Posted-In: Analyst Color Downgrades Price Target Analyst Ratings

 

Related Articles (AGCO + DE)

Around the Web, We're Loving...