Stock price when the opinion was issued
Long-term chart demonstrates the excellent business and operations. We all need to eat. Focus going forward will be autonomous farming vehicles -- it will sell software to farmers as well as equipment. Valuation will ebb and flow with food and commodity prices, as well as the economy. He stays away from commodity-type businesses.
In a time of growing global agricultural demand, DE is well positioned. It has invested $2.2 billion into research for innovations that allow farmers to reduce input costs and their environmental footprint. It trades at 15x earnings and supports a robust 41% ROE. We recommend setting a stop-loss at $320, looking to achieve $425 -- upside potential of 60%. Yield 1.5%
(Analysts’ price target is $425.94)