Deere (DE) Buy Rating Reiterated at Deutsche Bank

Deutsche Bank maintained a Buy rating on Deere (NYSE: DE) with a price target of $110. Comments follow meetings with management.

Analyst Vishal Shah said, "We reiterate our constructive view on shares following a series of investor meetings with DE management team. We believe DE is well positioned to benefit from longer term secular growth of Ag equipment market. While we continue to expect some uncertainty with respect to NA large ag cycle in the near term, mgmt meetings reinforce our view that the magnitude and duration of downcycle is likely to be better than investor expectations. Moreover, we expect the company to benefit from share gains in international ag markets and expect fundamentals in NA small ag to remain relatively stable."

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 $88.53 yesterday.

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