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Fly News Breaks for May 27, 2019
May 27, 2019 | 12:55 EDT
BMO Capital analyst Joel Tiss lowered his price target for Deere to $175 from $195, while reiterating an Outperform rating on the stock. The analyst notes that following a "strong run" in the shares since the beginning of 2016 in anticipation of a cyclical upturn for large agricultural equipment in North America, there is little room for investors to hear that the hoped-for recovery is being pushed even further out. Nevertheless, Tiss believes the downside risk for the shares is much lower compared with many other heavy-machinery companies.
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