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Wells Fargo Keeps Their Buy Rating on Deere (DE)

Tipranks - Tipranks - Fri Jun 12, 4:44AM CDT

In a report released yesterday, Jerry Revich from Wells Fargo maintained a Buy rating on Deere, with a price target of $750.00. The company’s shares closed yesterday at $560.05.

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Revich covers the Industrials sector, focusing on stocks such as Cummins, Caterpillar, and EquipmentShare.com, Inc.. According to TipRanks, Revich has an average return of 8.6% and a 56.20% success rate on recommended stocks.

Deere has an analyst consensus of Moderate Buy, with a price target consensus of $657.84, a 17.46% upside from current levels. In a report released on June 1, Barclays also maintained a Buy rating on the stock with a $640.00 price target.

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Based on Deere’s latest earnings release for the quarter ending May 3, the company reported a quarterly revenue of $13.37 billion and a net profit of $1.77 billion. In comparison, last year the company earned a revenue of $12.53 billion and had a net profit of $1.8 billion

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