Merrill Lynch Upgrades Deere (DE) to Buy
More News related to DE
- Deere Expects Midwest Flooding to Have Minimal Impact on Projected Credit Operations' Net Income
- Deere & Company to Fund Technology Innovation Center at University of Illinois
- John Deere Foundation Provides $1 Million to Help in Flood Relief for U.S. Midwest
- Deere & Company Sets Goal to Reduce Greenhouse Gas Emissions
- Deere Says Flood Waters Have Had No Impact on Tractor Production
Merrill Lynch upgrades Deere (NYSE: DE) from Neutral to Buy.
Shares of Deere are down 6% this AM after reporting Q2 results.
Deere reported EPS of $1.74, 1 cent worse than estimates. Worldwide net sales and revenues increased 18% to $8.097 billion vs. consensus of $7.61 billion. Deere's net income is forecast to be about $2.2 billion for full-year 2008 and in a range of $550 million to $575 million for the third quarter. Escalating raw-material costs and the availability of various parts and components are expected to have an impact on operations for the balance of the year.
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