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Jefferies Thinks Deere’s Stock is Going to Recover

Jefferies analyst Stephen Volkmann maintained a Buy rating on Deere (DEResearch Report) on June 13. The company’s shares closed last Thursday at $317.70, close to its 52-week low of $307.64.

According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 17.3% and a 60.5% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Lennox International, Johnson Controls, and Parker Hannifin.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Deere with a $419.93 average price target, implying a 30.2% upside from current levels. In a report issued on June 13, Credit Suisse also reiterated a Buy rating on the stock with a $472.00 price target.

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Deere’s market cap is currently $101B and has a P/E ratio of 17.25.

Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is neutral on the stock.

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Founded in 1837, Illinois-based Deere & Co. manufactures and distributes various equipment that is used in agriculture, construction, forestry, and turf care. The company operates through three business segments: Agriculture and Turf, Construction and Forestry, and Financial Services.

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