Baird analyst Mircea Dobre raised the firm’s price target on Deere to $512 from $470 and keeps an Outperform rating on the shares. The analyst said that the company’s Q1 report was a "solid start" to FY23 with sales up 34% year-over-year. The firm added that FY23 is the year it has been waiting for as the supply chain is starting to allow for sizable production increases while the positive price/cost gap reaches a decade-plus high.
Published first on TheFly
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