In a report released yesterday, Stephen Volkmann from Jefferies reiterated a Hold rating on Deere (NYSE: DE), with a price target of $150. The company’s shares closed yesterday at $138.
According to TipRanks.com, Volkmann is a 5-star analyst with an average return of 18.0% and a 68.8% success rate. Volkmann covers the Industrial Goods sector, focusing on stocks such as Caterpillar, Paccar Inc, and Terex Corp.
Deere has an analyst consensus of Strong Buy, with a price target consensus of $183.86.
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Based on Deere’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $10.72 billion and net profit of $1.21 billion. In comparison, last year the company had a net profit of $642 million.
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Deere & Co. manufactures and distributes a complete line of equipment used in agriculture, construction, forestry and turf care. It also manufactures engines and other power train components. It operates its business through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services.
