Deere (DE) PT Raised to $485 at Morgan Stanley After Guidance Blows Away Expectations

November 26, 2021 8:04 AM EST
Get Alerts DE Hot Sheet
Price: $364.03 -0.07%

Rating Summary:
    17 Buy, 15 Hold, 5 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 13 | New: 20
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Morgan Stanley analyst Courtney Yakavonis raised the price target on Deere (NYSE: DE) to $485.00 (from $442.00) after the company initiated FY22 guidance that was ahead of consensus while absorbing ~$700-750M of incremental cost headwinds.

The analyst reiterated an Overweight rating, stating "DE's above-consensus FY22 guidance initiation despite incremental material cost & supply chain headwinds and a more severe than expected strike impact underscores the durability of DE's margin improvement narrative - with cycle support suggesting limited risk to top-line momentum".

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

Related Entities

Morgan Stanley