Barclays Defends Deere (DE); See Continued Momentum After Strong Q2 Report
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Price: $608.85 --0%
Rating Summary:
18 Buy, 20 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 10
Rating Summary:
18 Buy, 20 Hold, 5 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 10
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Barclays maintains an 'Overweight' on Deere (NYSE: DE) price target of $101.00.
Analyst, Andy Kaplowitz, said, "We view DE's strong FY2Q and full year guidance raise as largely supportive of our positive thesis on the stock, and indicative of continued good momentum in the global ag equipment markets."
Kaplowitz thinks shares underperformed yesterday (dropped over 3%), citing the drop by concerned investors that think 2012 could be an earnings peak for Deere. Although, Kaplowitz disagrees with this sentiment, stating inventory is positively positioned so 2013 should be better still. He also cites a strong second half of 2012 in Ag & Turf and longer term Construction & Forestry business.
Barclays raises FY12 EPS estimate from $7.95 to $8.15, but maintains FY13 at $8.45.
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 $74.18 yesterday.
Analyst, Andy Kaplowitz, said, "We view DE's strong FY2Q and full year guidance raise as largely supportive of our positive thesis on the stock, and indicative of continued good momentum in the global ag equipment markets."
Kaplowitz thinks shares underperformed yesterday (dropped over 3%), citing the drop by concerned investors that think 2012 could be an earnings peak for Deere. Although, Kaplowitz disagrees with this sentiment, stating inventory is positively positioned so 2013 should be better still. He also cites a strong second half of 2012 in Ag & Turf and longer term Construction & Forestry business.
Barclays raises FY12 EPS estimate from $7.95 to $8.15, but maintains FY13 at $8.45.
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 $74.18 yesterday.
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