U.S. Markets open in 6 hrs 10 mins
  • S&P Futures

    3,925.25
    +9.00 (+0.23%)
     
  • Dow Futures

    31,549.00
    +62.00 (+0.20%)
     
  • Nasdaq Futures

    12,172.75
    +32.25 (+0.27%)
     
  • Russell 2000 Futures

    1,766.00
    +4.30 (+0.24%)
     
  • Crude Oil

    107.39
    -0.23 (-0.21%)
     
  • Gold

    1,840.60
    +10.30 (+0.56%)
     
  • Silver

    21.42
    +0.29 (+1.37%)
     
  • EUR/USD

    1.0574
    +0.0016 (+0.1480%)
     
  • 10-Yr Bond

    3.1250
    0.0000 (0.00%)
     
  • Vix

    27.23
    -1.82 (-6.27%)
     
  • GBP/USD

    1.2299
    +0.0029 (+0.2374%)
     
  • USD/JPY

    135.1550
    -0.0150 (-0.0111%)
     
  • BTC-USD

    21,324.45
    -105.77 (-0.49%)
     
  • CMC Crypto 200

    464.90
    +11.00 (+2.42%)
     
  • FTSE 100

    7,239.52
    +30.71 (+0.43%)
     
  • Nikkei 225

    26,871.27
    +379.30 (+1.43%)
     

Credit Suisse Sees Demand Trends Strong Across Deere's Portfolio

  • Oops!
    Something went wrong.
    Please try again later.
·1 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Credit Suisse’s analyst, Jamie Cook, met with Deere & Company (NYSE: DE) Investor Relations team, including Deputy Financial Officer Josh Jepsen and Head of Investor Relations, Brent Norwood.

  • The analyst maintained his Outperform rating on the shares and the price target of $472 post the meeting.

  • Cook believes that Deere’s technological adoption is accelerating. Higher input costs and resource scarcity are driving technology adoption, resulting in significant savings and the potential to manage resources better.

  • According to the analyst, as the precision AG business model evolves, Deere sees a greater opportunity to monetize the value it provides for its customers through pay per use or per acre rather than a point of sale. He argues that increasing the price per acre or use over time will assist in decreasing the amplitude of cycles.

  • Cook expects that shifting to a pay-per-acre or pay-per-use model will increase Deere’s market share among smaller farmers and contractors by eliminating hefty upfront expenses, which have traditionally been a deterrent for smaller clients.

  • The order book for 2023 appears to be quite promising. The supply chain issues persist, but they are in line with expectations.

  • Price Action: DE shares are trading lower by 2.71% at $326.14 on the last check Monday.

Latest Ratings for DE

Date

Firm

Action

From

To

Mar 2022

Wells Fargo

Initiates Coverage On

Overweight

Feb 2022

Oppenheimer

Maintains

Outperform

Feb 2022

JP Morgan

Maintains

Underweight

View More Analyst Ratings for DE

View the Latest Analyst Ratings

See more from Benzinga

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.