UPDATE: Credit Suisse Reiterates Outperform Rating, Lowers PT on Deere & Company Following Brazil Analyst Day

In a report published Monday, Credit Suisse analyst Jamie Cook reiterated an Outperform rating on Deere & Company DE, but lowered the stock's price target from $98.00 to $95.00.

In the report, Credit Suisse noted, “We attended DE's analyst meeting in Brazil. The focus was on DE's strategy within Ag and C&F. Under the tenure of Chairman and CEO Sam Allen, DE is more aggressively going after growth in attractive, higher return overseas markets. DE has been fairly successful in LatAm Ag and is using a similar strategy in C&F by localizing and broadening its product line, targeting customers that will pay for value and technology, investing in capacity and leveraging the dealer network.”

Deere & Company closed on Friday at $82.71.