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Fly News Breaks for June 27, 2018
DE
Jun 27, 2018 | 07:31 EDT
UBS analyst Steven Fisher noted the recent grain price pullback has dampened sentiment in part of the corn-belt, but he also said it was coming off the strongest sentiment and sales activity in years. His research suggests farmers are replacing combines and planters due to changes in technology and replacing tractors at the end of their 5-year warranty. He believes this could lead to an accelerated recovery for Deere's Ag business in North America, which could lead to further share gains and the potential for dividend increases and buybacks. Fisher reiterated his Buy rating and $185 price target on Deere shares.
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