Longbow recommends avoiding Deere following global survey Longbow's global agriculture survey shows that equipment demand has taken "another step down" in Q2 following a 27.1% decline in the Ag & Turf segment in Q1 amid commodity price weakness. The firm believes a recovery in commodity pricing is likely to be pushed out "several" planting cycles. It keeps its below consensus estimates for Deere and recommends not holding the stock. Longbow has an Underperform rating on the name with a $72 price target. Deere was downgraded this morning at JPMorgan to Underweight.
Oppenheimer to hold a conference 10th Annual Industrial Growth Conference is being held in New York on May 12-13 with webcasted company presentations to begin on May 12 at 8:15 am; not all company presentations may be webcasted. Webcast Link