Deere price target lowered to $551 from $560 at Credit Suisse

Credit Suisse analyst Jamie Cook lowered the firm’s price target on Deere to $551 from $560 and keeps an Outperform rating on the shares. Deere’s Q3 EPS beat consensus by 14% and beat marginally on sales, but the margin performance across the entire portfolio was “exceptional” as supply chain and cost pressures eased, reflecting strong execution and success in structural margin improvement initiatives as well as double digit pricing, the analyst tells investors in a research note.