Citi initiated coverage of Deere with a Neutral rating and $395 price target. The firm’s outlook for machinery “leans neutral-to-positive,” reflective of its even split between Buy and Neutral ratings. Citi sees the most upside for construction-levered names, driven by its “better-than-feared” outlook for North American non-residential construction. The analyst also sees the most downside risk to North America agriculture estimates. The firm’s analysis of large ag replacement demand, and an observed pickup in used inventories, suggest more potential downside than upside risk to Street estimates for 2025.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DE:
- Deere says planned job cuts not expected to affect revised guidance
- Deere Stays Course with Earnings Outlook Amid Workforce Streamlining
- Deere & Company Announces Quarterly Dividend
- Deere price target lowered to $371 from $387 at Evercore ISI
- Deere price target lowered to $465 from $483 at DA Davidson
Questions or Comments about the article? Write to editor@tipranks.com