UBS Maintains a 'Buy' on Deere (DE); Increasing Numbers on Q1 Beat & Raise
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Price: $608.85 -0.58%
Rating Summary:
18 Buy, 20 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
18 Buy, 20 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on Deere (NYSE: DE) price target raised from $110 to $115.00.
UBS analyst says, "DE beat fiscal 1Q by $0.06 and raised FY12 guidance to $0.19 above consensus. That said, shares pulled back 5% on the day as investors remained cautious on the NA farm equipment outlook. Despite the pullback, we believe as investors absorb positive takeaways from results (including improving used combine inventories, margin improvements and share gains globally), DE shares can begin to outperform."
"Reflecting higher ag margins than previously forecast, we are raising FY12E, FY13E & FY14E EPS to $8.25, $9.20 & $9.90, from $7.95, $8.75 & $9.45."
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 $84.28 yesterday.
UBS analyst says, "DE beat fiscal 1Q by $0.06 and raised FY12 guidance to $0.19 above consensus. That said, shares pulled back 5% on the day as investors remained cautious on the NA farm equipment outlook. Despite the pullback, we believe as investors absorb positive takeaways from results (including improving used combine inventories, margin improvements and share gains globally), DE shares can begin to outperform."
"Reflecting higher ag margins than previously forecast, we are raising FY12E, FY13E & FY14E EPS to $8.25, $9.20 & $9.90, from $7.95, $8.75 & $9.45."
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 $84.28 yesterday.
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