Deere & Co. (DE) call put ratio 1 call to 1.3 puts into quarter results

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JPMorgan on Deere (DE): 'we believe this is a reasonable guide given the current market conditions'

November 21, 2024 8:39 AM EST

JPMorgan analyst Ann Duignan reiterated a Neutral rating and $420.00 price target on Deere (NYSE: DE).

The analyst comments "F4Q beat on equipment operating margins and lower taxes while equipment sales missed; FY25 guide should create a range of potential outcomes for the bulls and bears. DEs EPS came in ~18% above consensus as a sales miss on the equipment side was more than offset by upside on operating margin across all segments and ~20 cents benefit from lower taxes. The $5-5.5B net income guidepoints to EPS of ~$18.50-$20.40 for FY25 (assuming ~3% accretion from... More