Jefferies downgraded Deere (DE) to Hold from Buy with an unchanged $510 price target as part of a broader research note previewing 2025 for the Machinery and Industrial sector. The markets have been pricing in a “dire industrial scenario” which the firm sees as “unlikely”, the analyst tells investors in a research note. Approaching 2025 however, the landscape has changed as the markets have turned more bullish on industrial trends and with valuations near the high end of historical highs, forcing the firm to be “increasingly selective”, Jefferies added.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DE:
- Deere raises quarterly dividend to $1.62 from $1.47 per share
- Deere price target raised to $437 from $395 at Evercore ISI
- Is Deere (NYSE:DE) Stock a Buy for Dividend Growth Investors?
- Walmart Retreats from DEI Policies Ahead of Black Friday
- Deere price target raised to $450 from $401 at Morgan Stanley