Bank of America analyst Michael Feniger has revised the price target for Deere (DE, Financial), reducing it to $495 from the previous $500, while maintaining a Neutral rating on the stock. This adjustment comes as the firm reassesses its forecasts and expectations for agricultural equipment original equipment manufacturers (OEMs), following insights gathered from the BofA farm equipment dealer survey.
The survey results prompted a more guarded perspective on the decremental margins and production cycle for these manufacturers. This cautious stance reflects current industry conditions as the market navigates through various economic challenges.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 19 analysts, the average target price for Deere & Co (DE, Financial) is $491.18 with a high estimate of $583.00 and a low estimate of $400.00. The average target implies an upside of 5.96% from the current price of $463.57. More detailed estimate data can be found on the Deere & Co (DE) Forecast page.
Based on the consensus recommendation from 24 brokerage firms, Deere & Co's (DE, Financial) average brokerage recommendation is currently 2.5, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Deere & Co (DE, Financial) in one year is $307.69, suggesting a downside of 33.63% from the current price of $463.57. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Deere & Co (DE) Summary page.
