Deere downgraded to Sell from Neutral at UBS UBS downgraded Deere based on expectations that continued lower corn prices will pressure ag equipment demand in 2014. Price target lowered to $72 from $96.
News For DE From The Last 14 Days
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April WASDE data imply modest row crop cash improvement, says Wells Fargo Well Fargo estimates that the latest WASDE report from the USDA implies U.S. row crop farmer cash receipts declining 13% in 2013/14 from the prior year, which is a modest improvement from March's implied forecast. The firm notes that the data still suggests an apparent decrease in 2013/2014 farm cash flow and keeps its Underperform ratings on Deere (DE) and AGCO (AGCO).