John Deere (DE) Stock: $425 Price Target And Market Perform Rating

By Amit Chowdhry ● May 22, 2022
  • The shares of John Deere (NYSE: DE) have received a $425 price target from BMO Capital. These are the details.

The shares of John Deere (NYSE: DE) have received a $425 price target from BMO Capital. And BMO Capital analyst Joel Tiss reiterated a “Market Perform” rating on the shares.

“Deere reported fiscal 2Q22 EPS of $6.81, or closer to about $5.75 adjusted, vs. $6.69 consensus. Equipment adjusted operating margins were down 155 bps y/y to 17.9% but missed expectations of 19.7%,” wrote Tiss in a research note. “For fiscal 2022 (October), management increased its forecast for net income, which includes a gain and implies EPS of about $23.40 vs. $22.79 consensus. We expect DE shares will trade lower today on Deere’s rather underwhelming operating results compared with elevated expectations.”

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