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The Panic-Proof Portfolio (Stockchase Research) Deere & Co. DE-N TOP PICK Jun 04, 2024

Stockchase Research Editor: Michael O'Reilly

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)

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TRADE

Looking back 2-3 years, bounces back and forth between $340 and $430. Recent downswing from April-July, finding support around $350. However, started to bounce over last 2 days, encouraging. First resistance $410-415, next at $430-435, with the $400 round number in between. Trading upswing within a long-term trading range.

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Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 4.9%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with DE is progressing well. To remain disciplined, we recommend trailing up the stop (from $320) to $357 at this time.

Premium content

Unlock this Panic-proof Portfolio opinion with Stockchase Premium

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 11.9%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with DE is progressing well. To remain disciplined, we recommend trailing up the stop (from $357) to $380 at this time.

Premium content

Unlock this Panic-proof Portfolio opinion with Stockchase Premium

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 15.7%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with DE has achieved its target at $425. To remain disciplined, we recommend covering half the position at this time and maintaining the stop at $49..

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Unlock this Panic-proof Portfolio opinion with Stockchase Premium

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 15.1%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with DE is progressing well. To remain disciplined, we recommend trailing up the stop (from $380) to $401 at this time.

Premium content

Unlock this Panic-proof Portfolio opinion with Stockchase Premium

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 28.5%)Stockchase Research Editor: Michael O’Reilly

Our PAST TOP PICK with DE is progressing well. To remain disciplined, we recommend trailing up the stop (from $401) to $441 at this time.

COMMENT

He expects a weak quarter on Thursday. Share prices are falling due to farmer incomes, which should turn around. Price crops should increase. Deere has controlled inventory.

Premium content

Unlock this Panic-proof Portfolio opinion with Stockchase Premium

Curated by Michael O'Reilly since 2020.
1550+ opinions with 4.81 rating (one of the best performing expert).

PAST TOP PICK

(A Top Pick Jun 04/24, Up 20%)Stockchase Research Editor: Michael O'Reilly

Our PAST TOP PICK with DE has triggered its stop at $441. To remain disciplined, we recommend covering the position at this time.

BUY

We need better ag machines to feed the world, ever-demanding more food, and Deere is front and center of that. They use big data to reduce crop nutrients, so they are on the leading edge of farming. Is a little concerned about their financing. But this is good the next 5-10 years.

DON'T BUY

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.

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