Shares of Deere & Co. fell 0.8% in morning trading Wednesday, after the maker of agriculture, construction and turf care equipment was downgraded at UBS, citing concerns over valuation following the sharp bounce over the past couple months. Analyst Steven Fisher cut his rating to neutral from buy, but raised his stock price target to $167 from $158. Fisher said he now believes the stock "fairly reflects the balance of near-term caution vs. the potential for a pick up in the large ag replacement cycle in 2020." The downgrade comes after the stock has soared 20.2% since closing at a 6 1/2-month low of $134.82 on May 17. Over the same time, the SPDR Industrial Select Sector ETF has gained 3.0% and the Dow Jones Industrial Average tacked on 4.4%. Fisher said his research indicates demand will weaken in the next one to two quarters, as farmers hold back on purchases given "poor growing conditions and ongoing trade uncertainty," although higher gain prices are a "positive indicator for future farm income."