Colin Cieszynski
Deere & Co.
DE-N
TRADE
Jul 18, 2024
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.
Not exactly undervalued. Volatile. Range-bound until recent uptrend. Impacted by commodity prices and interest rates. Cost-cutting, lowering forecasts. Business remains under pressure. 11% upside to street's target. Wait to see where the stock's going. Yield of 1.5%.
(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..
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.
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.
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.