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Fly News Breaks for June 24, 2019
DE
Jun 24, 2019 | 07:34 EDT
Jefferies analyst Stephen Volkmann upgraded Deere to Buy from Hold, citing what he sees as a tightened global crop supply demand balance following five years of depressed Large ag fundamentals. He thinks positive momentum in farmer net income support double-digit large equipment growth through 2020, said Volkmann, who also noted that his $12.00 earnings forecast, which is ahead of consensus at $11.65, has "some additional upside bias." He raised his price target on Deere shares to $190 from $150.
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