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Fly News Breaks for May 20, 2019
May 20, 2019 | 08:32 EDT
RBC Capital analyst Seth Weber lowered his price target on Deere to $175 after its Q2 earnings miss and disappointing "tempered" outlook for FY19, though he contends that the revision is not surprising in light of the U.S.-China trade tensions and bad weather. The analyst maintains his Outperform rating on Deere shares however, citing the benefits of the company's pricing stability and its strong performance in Brazil along with "flattish" E.U. Weber also expects the company's recent production cuts to position it well for 2020, noting that his bullish thesis remains intact even though he lowers his FY19 EPS view to $2.20 from $2.69.
News For DE From the Last 2 Days
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 See Story Here
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.
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.