Fly News Breaks for August 19, 2019
Aug 19, 2019 | 07:53 EDT
Credit Suisse analyst Jamie Cook raised his price target for Deere to $197 from $176, while reiterating an Outperform rating on the shares despite the Q3 miss. The analyst believes expectations were sufficiently low heading into the print reflecting macro/trade war uncertainty, commodity prices and unfavorable weather which delayed planting. Furthermore, despite concerns on the C&F business, Cook believes visibility remains good, extended through Q4. The analyst also expects OCF to continue to be strong, which he believes Deere will continue to prioritize toward organic growth, dividends and share repurchase.
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