Deere & Co. (DE): Pricing Benefits Not Flowing Through to 2017 - Jefferies

November 28, 2016 7:03 AM EST
Get Alerts DE Hot Sheet
Price: $107.14 +0.02%

Rating Summary:
    9 Buy, 11 Hold, 8 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 17 | New: 10
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Jefferies analyst, Stephen Volkmann, reiterated his Hold rating on shares of Deere & Co. (NYSE: DE) and raised the price target to $95 after the company reported F4Q16 EPS of $0.90, well above his $0.34 estimate. Consensus of $0.40 was topped as well, helped by 3pts of favorable pricing in the quarter which he believes equated to ~$0.40/shr.

This level of pricing is not expected to carry into 2017, however, as organic sales are expected to decline 3%, offset by 1pt in favorable pricing and 1pt in positive FX. F2017 guidance implies roughly $4.40 in EPS, consistent with Jefferies expectations and ahead of Consensus of $3.84.

The new PT of $95 is up from $85

For an analyst ratings summary and ratings history on Deere click here. For more ratings news on Deere click here.

Shares of Deere closed at $103.92 yesterday.

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