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Fly News Breaks for January 24, 2017
DE
Jan 24, 2017 | 07:05 EDT
Berenberg analyst Sabastian Juenne initiated Deere with a Sell and a $90 price target. The analyst's 2017 earnings estimate is in-line with consensus but his 2018 earnings forecast is approximately 18% below as he does not expect a meaningful recovery in agricultural equipment spending in North America and Europe in 2018. Juenna said Deere's high exposure to struggling North American and low exposure to resilient markets, could result in a subdued earnings recovery versus more diversified peers.
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