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Citigroup Raises Price Target of Deere & Co.; Maintains “Buy” Rating (DE)
On Friday analysts at Citigroup raised its price target for the agricultural machinery manufacturer Deere & Company (DE
).
The analysts raised the price target for John Deere to $97, a +13.6% upside from Thursday’s closing price of $85.39. The firm also maintains its “Buy” rating of DE.
Deere shares were up 36 cents, or +0.42%, in premarket trading on Friday.
The Bottom Line
Shares of Deere (DE) have a 2.15% dividend yield, based on last night’s closing stock price of $85.39. The stock has technical support in the $80-$81 price area. If the shares can firm up, we see overhead resistance around the $88-$90 price levels.
Deere & Company (DE) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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