UPDATE: Jefferies Raises PT on Deere to $85

Jefferies maintains its Hold rating on Deere DE and raises its price target to $85 from $83 following a solid fourth quarter. Jefferies says, "DE reported F4Q EPS of $1.30, ~$0.05 better than consensus on better than expected A&T margins. FY12 guidance tweaked slightly upward, but the NA market forecast seems aggressive to us." DE closed at $84.28 a share on Wednesday.