Deere price target lowered to $483 from $493 at DA Davidson

DA Davidson lowered the firm’s price target on Deere to $483 from $493 but keeps a Buy rating on the shares. The company’s Q1 earnings topped expectations but its outlook was reduced slightly due in part to European Ag conditions, the analyst tells investors in a research note. Deere’s Construction outlook was raised slightly however as projects such as road & infrastructure suggest strength in the coming quarters, the firm added.