Market Overview

UPDATE: Morgan Stanley Initiates Coverage on Deere & Company on Negative Outlook

Share:
Related DE
Worst Performing Industries For June 29, 2016
Watch These 7 Huge Call Purchases In Thursday Trade
Analysts Are Wrong About Deere (Seeking Alpha)

In a report published Thursday, Morgan Stanley analyst Nicole DeBlase initiated coverage on Deere & Company (NYSE: DE) with an Underweight rating and $72.00 price target.

In the report, Morgan Stanley noted, “We forecast 8% downside to 2014e consensus, as we are concerned about recent deterioration in the used equipment market, augmented by a negative margin mix shift, as evidenced by our proprietary survey work. Our $72 PT implies 14% downside, and we project a 2-to-1 negative risk/reward ratio.”

Deere & Company closed on Wednesday at $84.48.

Latest Ratings for DE

DateFirmActionFromTo
Jun 2016Goldman SachsUpgradesNeutralBuy
May 2016UBSUpgradesNeutralBuy
May 2016BMO CapitalUpgradesMarket PerformOutperform

View More Analyst Ratings for DE
View the Latest Analyst Ratings

Posted-In: Morgan Stanley Nicole DeblaseAnalyst Color Initiation Analyst Ratings

 

Related Articles (DE)

View Comments and Join the Discussion!