Stifel Nicolaus analyst Stanley Elliott maintained a Buy rating on Deere (DE – Research Report) today and set a price target of $450.00. The company’s shares closed yesterday at $394.43.
Elliott covers the Industrials sector, focusing on stocks such as WillScot Mobile Mini Holdings, MSA Safety, and Trex Company. According to TipRanks, Elliott has an average return of 19.1% and a 70.70% success rate on recommended stocks.
Currently, the analyst consensus on Deere is a Moderate Buy with an average price target of $423.38, which is a 7.34% upside from current levels. In a report released today, Barclays also assigned a Buy rating to the stock with a $400.00 price target.
Based on Deere’s latest earnings release for the quarter ending January 31, the company reported a quarterly revenue of $12.19 billion and a net profit of $1.75 billion. In comparison, last year the company earned a revenue of $12.65 billion and had a net profit of $1.96 billion
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Deere (DE) Company Description:
Founded in 1837, Illinois-based Deere & Co. manufactures and distributes various equipment that is used in agriculture, construction, forestry, and turf care. The company operates through three business segments: Agriculture and Turf, Construction and Forestry, and Financial Services.
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