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Fly News Breaks for March 2, 2020
Mar 2, 2020 | 08:17 EDT
BofA analyst Ross Gilardi upgraded Deere to Neutral from Underperform. The risk-reward now looks more balanced after shares fell below his recently raised $158 price target on virus concerns following a strong quarter for Ag & Turf, Gilardi tells investors. His FY20 earnings forecast is now broadly in line with consensus and he feels more comfortable with Deere's assumptions after hosting the company at the BofA Global Ag & Materials conference, although he remains skeptical of Deere's ability to drive a 15% margin by 2022, the analyst added.
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