- Deere & Company (NYSE: DE) shares received a price target of $ 485 from Morgan Stanley. These are the details.
Deere & Company (NYSE: DE) shares received a price target of $ 485 from Morgan Stanley. And Morgan Stanley analyst Courtney Yakavonis raised the company’s price target to $ 442 while maintaining an “overweight” rating on stocks.
Yakavonis adjusted the price target after the company launched the above consensus forecast for FY22 despite additional material costs and supply chain headwinds as well as a harsher strike impact provided that. And the forecast underscores the sustainability of Deere’s improved margin execution execution, while a strong cycle suggests limited risk to sales momentum.
Deere & Company released its fourth quarter results last week. Here are the highlights of the quarter:
– Net income of $ 1.283 billion for the fourth quarter ended October 31, 2021, or $ 4.12 per share, compared to net income of $ 757 million, or $ 2.39 per share, for the quarter ended November 1, 2020.
– For fiscal 2021, net income attributable to Deere & Company was $ 5.963 billion, or $ 18.99 per share, compared to $ 2.751 billion, or $ 8.69 per share, during fiscal year 2020.
– Profits for the full year 2022 are expected to be between $ 6.5 billion and $ 7 billion, reflecting healthy demand.
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