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Fly News Breaks for May 20, 2019
May 20, 2019 | 09:11 EDT
Stifel analyst Stanley Elliott lowered his price target on Deere to $171 from $180 citing the FY19 guidance cut that he sees being driven by the "cocktail of negative developments" in terms of trade, late plantings and swine flu. However, Elliott keeps a Buy rating on Deere shares, as he believes large ag purchases are delayed but that the long-term replacement cycle is still intact. He also sees opportunity in Deere's digital platform, noting that over 105M of the U.S.'s roughly 300M crop acres are on the platform.
News For DE From the Last 2 Days
Jun 16, 2019 | 21:30 EDT
Baird analyst Mig Dobre upgraded Titan Machinery (TITN) to Outperform from Neutral and raised his price target for the shares to $24 from $18. The analyst says favorable weather conditions trump trade war concerns. He also upgraded Deere (DE) to Outperform from Neutral for a similar rationale.