UPDATE: Macquarie Downgrades Deere (DE) to Neutral

April 17, 2013 7:21 AM EDT
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Price: $105.24 --0%

Rating Summary:
    9 Buy, 11 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 8 | New: 1
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(Updated - April 17, 2013 7:59 AM EDT)

Macquarie downgraded Deere (NYSE: DE) from Outperform to Neutral with a price target of $95 (from $102).

Analyst Sameer Rathod doesn't' think the company's ag and turf business will be immune from lower equipment demand, which is likely to result from lower grain and oil seed prices next year. Rathod thinks there is a chance crop yields will substantially under-perform due to weather.

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 $83.18 yesterday.

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