In a report published Thursday, Credit Suisse analyst Jamie Cook reiterated an Outperform rating on Deere & Company (NYSE: DE), and raised the price target from $95.00 to $100.00.
In the report, Credit Suisse noted, “On the Q4'14 EPS call, investors left with the impression that Deere called 2015 as the trough for large ag, causing some concern. DE clarified and believes despite its internal view there is a low probability large ag is down in 2016 (believes corn can approach $5 by next year) after a 55% decline over '14-'15, the company is managing for the worst case scenario. This will allow DE to be more nimble in the event that large ag takes another step down, or capitalize in the event markets improve.”
Deere & Company closed on Wednesday at $85.36.
Latest Ratings for DE
| Jan 2015 | Credit Suisse | Maintains | Outperform | |
| Dec 2014 | JP Morgan | Upgrades | Underweight | Neutral |
| Dec 2014 | Baird | Upgrades | Neutral | Outperform |
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