Deere (DE) Sell Rating Reiterated at Goldman Sachs
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Rating Summary:
20 Buy, 17 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 14
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Goldman Sachs maintained a Sell rating on Deere (NYSE: DE) with a price target of $69. Comments follow Q4 results. Analyst Jerry Revich thinks the company is in the early stages of a multi-yar downturn.
"We reiterate our Sell rating on Deere. While initial 2015 guidance that is well below consensus may prompt discussions of whether this is the trough, we point out (1) dealer inventory reductions are likely to accelerate vs. guidance, (2) price acceleration forecasts may prove challenging, (3) captive finance loss rates are likely to accelerate in a deteriorating returns environment, and (4) aggressive 4Q buybacks leave less room for capital deployment in 2015," said Revich.
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 $87.79 yesterday.
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