Oppenheimer analyst Kristen Owen raised the firm’s price target on Deere (DE) to $477 from $448 and keeps an Outperform rating on the shares. Deere is entering FY25 from a position of relative strength after executing against its targeted underproduction in Q4, the analyst tells investors in a research note. While the forecast isn’t rosy, the guidance embeds an outlook for production cadence converging with demand, and the guidance is conservative enough to be perceived as the “last large cut,” supporting the cyclical re-basing in valuation, Oppenheimer says.
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Read More on DE:
- Deere price target raised to $462 from $404 at UBS
- Deere price target raised to $450 from $420 at JPMorgan
- Deere price target raised to $475 from $400 at Barclays
- Deere & Company Reports Decline in 2024 Earnings
- Deere price target raised to $511 from $440 at Baird
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