Deere & Co. Stock Surpasses Analyst Price Target of $492.74
In recent trading, shares of Deere & Co. (Symbol: DE) have risen above the average analyst 12-month target price of $492.74, currently trading at $499.62 per share. When a stock hits its analyst-set target, the analyst typically has two paths to consider: downgrade due to valuation concerns, or adjust the target price upwards. Analysts’ reactions may also hinge on fundamental developments that could drive the stock price higher. If business prospects appear favorable for the company, it may warrant a reassessment of the target price.
Deere & Co. has 19 distinct analyst targets contributing to its shared average, but it is important to note that this average represents a mathematical computation. Analysts have differing views; for instance, one analyst projects a target price of $400.00, while another sets a higher target at $583.00. The standard deviation among these targets stands at $50.9.
The reason to consider the average DE price target is to engage in a “wisdom of crowds” approach, which aggregates insights from various analysts rather than relying solely on the opinion of a single expert. With DE now exceeding the average target price of $492.74, current investors are prompted to reassess the company. They must decide whether this target is a mere stepping stone towards a higher price or if the valuation has reached a point where it might be wise to reconsider their investment strategy.
| Recent DE Analyst Ratings Breakdown | ||||
|---|---|---|---|---|
| » | Current | 1 Month Ago | 2 Months Ago | 3 Months Ago |
| Strong buy ratings: | 9 | 9 | 9 | 9 |
| Buy ratings: | 1 | 2 | 2 | 2 |
| Hold ratings: | 9 | 8 | 8 | 8 |
| Sell ratings: | 0 | 0 | 0 | 0 |
| Strong sell ratings: | 0 | 0 | 0 | 0 |
| Average rating: | 2.0 | 1.92 | 1.92 | 1.92 |
The average rating in the table above ranges from 1 to 5, with 1 indicating a Strong Buy and 5 indicating a Strong Sell. This analysis utilizes data provided by Zacks Investment Research via Quandl.com. For more details, get the latest Zacks research report on DE—FREE.
The Top 25 Broker Analyst Picks of the S&P 500 »
Also see:
Market Cap History
IVTY Options Chain
ORRF Options Chain
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
