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Deere & Company is Yahoo Finance Plus’ investment idea of the day

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Yahoo Finance’s Jared Blikre reports details on Yahoo Finance’s Investment idea of the day.

Video Transcript

ALEXIS CHRISTOFOROUS: Before we let you go, I want to get to the Yahoo Finance Plus Investment Idea of the Day, which I know is Deere and Company. I guess there are some attractive valuations there. And tell us what analysts are saying.

JARED BLIKRE: Exactly. This comes from Argus Research. And let's check out what they are saying. First, we're going to get a chart that should be an intraday. So a nice pop here, markets up. And we also have the 10-year T-note rallying. So this is the ideal environment in which Deere would, as an industrial company, soar. Or run. Nothing runs like a Deere, right? Well, let me get to the commentary from Argus Research. We are seeing their long-term price target of $420. That's an interesting number. Echoes of Tesla right there.

But let's see what they're saying. "Recent weakness offers buying opportunity. Deere shares have underperformed over the past quarter, gaining 1% while the S&P 500 is up 8%. Business is good. Company recently reported fiscal third-quarter EPS that more than doubled year-over-year and topped the consensus estimate. Deere has boosted its dividend by 18%, a sign of management optimism about the company's near-term prospects. As well, valuations are attractive, and our target price is $420," Alexis.