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Fly News Breaks for May 20, 2019
DE
May 20, 2019 | 07:15 EDT
Deutsche Bank analyst Chad Dillard lowered his price target for Deere to $148 from $159 saying the company's Q2 results "missed the mark" and deteriorating fundamentals in large agriculture drove a guidance cut. The analyst says that while the shares "de-risked significantly" following the results, he continues to see a few overhangs, namely the uncertainty surrounding 2020 and the pricing assumptions embedded in the second half of 2019 guidance. Dillard keeps a Hold rating on Deere shares.
News For DE From the Last 2 Days
DE
Jun 24, 2019 | 11:33 EDT
Check out today's top analyst calls from around Wall Street, compiled by The Fly. EVERCORE CUTS SPOTIFY... To see the rest of the story go to thefly.com. See Story Here
DE
Jun 24, 2019 | 10:24 EDT
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. United Technologies (UTX) upgraded to Outperform from Market Perform at Cowen with analyst Cai von Rumohr citing the selloff in the shares after the Raytheon (RTN) merger announcement. 2. Deere (DE) and Agco (AGCO) upgraded to Buy from Hold at Jefferies. 3. Rent-A-Center (RCII) upgraded to Equal Weight from Underweight at Stephens with analyst Vincent Caintic citing what he sees as "massive potential" for third-party retailer Rent-To-Own, telling investors that he wouldn't want to be short any Rent-To-Own stock he covers as a result. 4. Hostess Brands (TWNK) upgraded to Buy from Neutral at UBS with Steven Strycula citing three catalysts he sees. 5. Dunkin' Brands (DNKN) upgraded to Outperform from Neutral at Wedbush with analyst Nick Steyan saying he believes Dunkin' U.S. is currently undergoing an inflection in same-store sales growth that is underappreciated by the Street. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
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.