#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 & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.
Read More - Current Price
- $431.50
- Consensus Rating
- Hold
- Ratings Breakdown
- 9 Buy Ratings, 11 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $442.83 (2.6% Upside)
