Evercore ISI analyst David Raso lowered the firm’s price target on Deere (DE) to $491 from $493 and keeps an In Line rating on the shares. The firm adjusted models in the machinery group following the Q2 reports. The analyst sees an upward bias to earnings estimates driving further multiple expansion in the sector. Evercore’s top pick in the group is Cummins (CMI).
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DE:
- Deere price target lowered to $580 from $595 at DA Davidson
- Morning News Wrap-Up: Friday’s Biggest Stock Market Stories!
- Cathie Wood Buys Deere Stock (DE) on Post-Earnings Dip, Builds Stakes in Exact Sciences and Robinhood Stocks
- Deere price target lowered to $488 from $520 at Baird
- Deere price target raised to $566 from $560 at Oppenheimer