BMO Capital Reiterates Market Perform Rating on Deere (DE)
BMO Capital analyst Joel Jackson reiterated a Market Perform rating and $400.00 price target on Deere (NYSE: DE).
The analyst comments "Strong quarter amid challenging dynamic as Deere beat FQ3 ($6.29 EPS vs. $5.72 consensus) and held ~$7B net income FY2024 (Oct) guidance. This was on slightly improved ag equipment price realization guidance (DE held ag sales/margin outlooks), offset by weaker construction/forestry guidance. One negative was a lower operating cash flow forecast. This release should be positively seen as FQ3 seemed a battleground — many thought DE would cut FY guidance and many thought it wouldn't."
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Shares of Deere closed at $351.28 yesterday.