Deere (DE) PT Raised to $100 at Credit Suisse
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Credit Suisse analyst J. Cook reiterated an Outperform rating and raised his price target on Deere (NYSE: DE) to $100.00 (from $87.00) following Q3 results.
Cook said the share outperformance following the results was "less so about earnings and more so regarding the CFO's commentary at the end of the call (DE assumed questions on additional levers for 2017 would be asked during Q&A and no one asked the question, therefore made comments at the end of the call). DE stated the company believes it can generate at least $500M in savings by 2018 assuming large AG stays at depressed current levels."
The firm raises FY2016-2018 EPS to $4.30, $4.30 and $6.20 (from $3.85, $4.00 and $5.95).
Shares of Deere closed at $87.32 yesterday.
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
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