2024-02-17 06:54:14 ET
Summary
- The negative outlook provided by Deere & Company's management during the latest quarterly results was largely expected.
- Deere's share price performance serves as a stark example of why investors should be mindful of the price they are buying at.
- The stock is now more attractive than it was back in 2021, but I remain cautious for the rest of 2024.
Deere & Company (DE) just reported its first quarter results for fiscal year 2024 and investors were suddenly up in arms with the worse-than-expected guidance for the current year. After rating the stock as a "Sell" for a number of years now, I am now changing my rating to Hold for a number of reasons that I will outline below.
Seeking Alpha
After the quarterly report, Deere's shares fell by more than 5% on the day following the release and given the challenging outlook for the industry as a whole, we might see a return of 'sell' ratings within the sell-side analyst community - something that has been missing completely over the past year or so....
Read the full article on Seeking Alpha
For further details see:
Deere: The Stock Is Slowly Approaching Buy Territory (Rating Upgrade)