Fly News Breaks for December 2, 2019
Dec 2, 2019 | 10:51 EDT
As previously reported, BofA/Merrill analyst Ross Gilardi downgraded Deere to Underperform from Neutral with a $150 price target. The analyst views last week's earnings outlook as disappointing and says it is "more realistic than conservative." The agriculture setup into next year is very challenging, and there is no guarantee that fiscal 2020 is the bottom if U.S. farmers respond with higher corn and soybean planting, Gilardi tells investors in a research note. The analyst sees share downside to $150 per share.
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