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DE

Deere

$156.59

1.52 (0.98%)

05:49
05/24/18
05/24
05:49
05/24/18
05:49

UBS upgrades Deere to Buy with $185 target into growing season

UBS analyst Steven Fisher upgraded Deere to Buy from Neutral and raised his price target for the shares to $185 from $175. The shares closed yesterday up $1.49 to $156.58. The slow recovery in Deere's large agriculture business could accelerate in fiscal 2019 with higher grain prices, which have a favorable set-up entering the growing season, Fisher tells investors in a research note. He thinks higher grain prices will stimulate a recovery in North America high-horsepower tractors, which he notes have been declining for five years. The analyst views the stock's risk/reward as favorable following the selloff in recent months.

DE Deere
$156.59

1.52 (0.98%)

05/07/18
EVER
05/07/18
UPGRADE
EVER
Outperform
Deere upgraded to Outperform from In Line at Evercore ISI
05/07/18
EVER
05/07/18
UPGRADE
Target $187
EVER
Outperform
Deere, Eaton, Terex upgraded to Outperform at Evercore ISI
As reported earlier, Evercore ISI analyst David Raso upgraded Deere (DE), Eaton (ETN), and Terex (TEX) to Outperform from In Line while adjusting their profit target to $187 from $166, $85 from $88, and $48 from $44 as part of his broader research note on Machinery stocks. Raso notes that the recent multiple compression in the sector has created an attractive entry point for these select names, while adding that the market's implied peak valuation in 2019 should actually be extended to 2021. The analyst further contends that "absolute industry volume" remains low, higher commodity prices relative to the rise in U.S. Treasury yields are a "positive" for the relative performance of the machinery sector, and that the market underestimates these companies' cash deployment power given the longer duration of the economic cycle. As part of his research note, the analyst also downgraded Parker Hannifin (PH) to In Line from Outperform and reduced his price target to $187 from $198, citing the company's reduced operating margin expectations and relatively higher valuation within its peer group.
05/07/18
05/07/18
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. McDonald's (MCD) and AutoZone (AZO) were upgraded to Conviction Buy from Buy at Goldman Sachs. 2. Eaton (ETN), Deere (DE), and Terex (TEX) were upgraded to Outperform from In Line at Evercore ISI. 3. LendingTree (TREE) and Santander Consumer (SC) were upgraded to Buy from Neutral at UBS, while Discover (DFS) was upgraded to Neutral from Sell. 4. First Industrial Realty (FR) upgraded to Buy from Neutral at Mizuho with analyst Richard Anderson saying he sees a "path for outperformance from here" with the valuation at "floor" levels. 5. Illumina (ILMN) upgraded to Overweight from Equal Weight at Barclays with analyst Jack Meehan saying he believes his firm's NovaSeq customer survey indicates "substantial elasticity of demand." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/24/18
UBSW
05/24/18
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UBSW
Buy
Deere upgraded to Buy from Neutral at UBS

TODAY'S FREE FLY STORIES

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Conference/Events
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KIDS

OrthoPediatrics

$33.46

0.75 (2.29%)

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CenturyLink

$21.83

0.79 (3.75%)

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HPE

HP Enterprise

$15.57

0.24 (1.57%)

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CLF

Cleveland-Cliffs

$10.92

-0.55 (-4.80%)

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VLKAY

Volkswagen

$0.00

(0.00%)

11:24
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Periodicals
VW starts construction on all-electric vehicle plant in China, Electrek says »

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SPX

S&P 500

$0.00

(0.00%)

, SPY

SPDR S&P 500 ETF Trust

$278.59

2.26 (0.82%)

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SPX

S&P 500

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SPY

SPDR S&P 500 ETF Trust

$278.59

2.26 (0.82%)

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HLT

Hilton

$71.80

-0.28 (-0.39%)

11:20
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Options
Call buyers in Hilton ahead of earnings next week »

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  • 24

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Treasury Option Action: a round of put positioning on bonds »

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APHB

AmpliPhi

$0.34

0.0142 (4.38%)

11:19
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UCFC

United Community Financial

$9.40

0.03 (0.32%)

11:18
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Breaking Hot Stocks news story on United Community Financial »

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NUVA

NuVasive

$61.95

-6.29 (-9.22%)

11:17
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  • 30

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

11:17
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Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

$0.00

(0.00%)

11:16
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F

Ford

$8.44

-0.065 (-0.76%)

, GM

General Motors

$31.17

0.09 (0.29%)

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F

Ford

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GM

General Motors

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Roku

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DIG

The Walt Disney Internet Group

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Tesla

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LOGC

LogicBio Therapeutics

$0.00

(0.00%)

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Syndicate
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  • 19

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ACRX

AcelRx

$4.10

-0.05 (-1.20%)

11:10
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Options
AcelRx attracts downside put buying »

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  • 03

    Nov

CAT

Caterpillar

$133.66

-1.25 (-0.93%)

11:00
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Options
Earnings hedge opened in Caterpillar »

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  • 23

    Oct

STN

Stantec

$24.46

0.09 (0.37%)

10:59
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Upgrade
Stantec rating change  »

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