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DE

Deere

$113.40

-10.58 (-8.53%)

10:12
08/18/17
08/18
10:12
08/18/17
10:12

Deere says long term global tail winds for agricultural economy in place

Comments are from the company's Q3 earnings call.

  • 18

    Aug

  • 22

    Nov

DE Deere
$113.40

-10.58 (-8.53%)

08/18/17
BARD
08/18/17
DOWNGRADE
Target $130
BARD
Neutral
Deere downgraded to Neutral at Baird
As reported previously, Baird analyst Mig Dobre downgraded Deere to Neutral from Outperform. The analyst cited Q3 results which were below his expectations as the pace of margin improvement lagged his forecast. He noted the company raised guidance but he sees tougher comps and weak farm fundamentals as headwinds. Dobre lowered his price target to $130 from $140 on Deere shares.
08/18/17
BARD
08/18/17
DOWNGRADE
BARD
Neutral
Deere downgraded to Neutral from Outperform at Baird
08/15/17
08/15/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) downgraded to Neutral from Buy at BofA/Merrill with analyst Ross Gilardi saying he is cautious into the print given recent data and expects the pace of earnings performance relative to expectations to begin to subside. 2. Zynerba (ZYNE) was downgraded to Perform from Outperform at Oppenheimer and to Hold from Buy at Jefferies. 3. Uniti Group (UNIT) downgraded to Neutral from Buy at BofA/Merrill with analyst David Barden saying Windstream's (WIN) dividend cut increases concerns about the health of the business and, combined with Uniti's increasing cost of capital, creates a negative feedback loop for the stock. 4. Farmland Partners (FPI) downgraded to Neutral from Outperform at Baird with the firm's analyst saying financial leverage is moving towards 18x EBITDA following the recent preferred offering, and the participating rights could create a liability for the common holders that could grow over time and a common dividend AFFO payout ratio over 130% estimated through YE19. 5. Banco Santander (SAN) downgraded to Neutral from Buy at Goldman Sachs with analyst Jose Abad seeing the valuation as full following the recent outperformance of the shares. The analyst lowered his price target for the shares to EUR 6.40. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/15/17
08/15/17
DOWNGRADE
Target $145

Neutral
Deere downgraded to Neutral ahead of earnings at BofA/Merrill
As previously reported, BofA/Merrill downgraded Deere to Neutral from Buy. Analyst Ross Gilardi is cautious into the print given recent data and expects the pace of earnings performance relative to expectations to begin to subside. The analyst notes recent AEM data reported high horse power tractor demand fell 22% in July and Brazilian combine demand fell 27% in July. Gilardi did not make any change to earnings estimates or his $145 price target ahead of the August 18 report and said the industry will need better grain fundamentals to accelerate growth in second half 2018-2019, which remain an uncertainty.

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