Robert W. Baird analyst Mircea Dobre maintained a Buy rating on Deere (DE – Research Report) on March 9 and set a price target of $487.00. The company’s shares closed last Monday at $398.25, close to its 52-week high of $405.49.
According to TipRanks.com, Dobre is a 5-star analyst with an average return of 15.0% and a 50.3% success rate. Dobre covers the Industrial Goods sector, focusing on stocks such as Mayville Engineering Company, Lincoln Electric Holdings, and John Bean Technologies.
Currently, the analyst consensus on Deere is a Moderate Buy with an average price target of $434.18, a 10.5% upside from current levels. In a report issued on March 11, Wells Fargo also initiated coverage with a Buy rating on the stock with a $455.00 price target.
Deere’s market cap is currently $119.5B and has a P/E ratio of 21.60.
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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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