Deere price target lowered to $458 from $487 at Evercore ISI

Evercore ISI analyst David Raso lowered the firm’s price target on Deere (DE) to $458 from $487 and keeps an In Line rating on the shares. Deere’s Q4 results and earnings call “didn’t deliver the positive turn in agricultural equipment fundamentals many were hoping for,” says the analyst, who is lowering estimates following the report. The near-term outlook remains murky with Q1 earnings expected to fall below consensus, adding pressure on full-year guidance, the analyst added.