#2 - Deere & Company (NYSE:DE)
If you’re looking for a stock that’s outpaced the performance of the S&P 500 Index, you can look at Deere & Company (NYSE:DE). The stock is up 38% in the last 12 months. The company has a diversified business model that makes it a market share leader across multiple large farm categories.
Despite delivering double beats in revenue and earnings for the last four quarters, continuing concerns over the coronavirus as well as supply chain difficulties have kept DE stock from breaking out of a range. That’s been particularly true since the end of September. But in the last month, the stock is looking like it’s ready to break out.
To that end, analysts give DE stock a consensus price target of $406.13 which is a 10% gain from its current level. One reason for optimism is continuing elevated commodity prices which have historically been a harbinger of capital gains growth for DE stock.
And John Deere has shown an ability to increase shareholder value with dividends and stock buybacks during strong economic times.
About Deere & Company
Deere & Company engages in the manufacture and distribution of various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides large and medium tractors, combines, cotton pickers and strippers, sugarcane harvesters and loaders, harvesting front-end equipment, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.
Read More - Current Price
- $446.65
- Consensus Rating
- Hold
- Ratings Breakdown
- 9 Buy Ratings, 13 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $431.61 (3.4% Downside)
