NEW YORK (TheStreet) -- Shares of Deere (DE) - Get Report closed down 0.59% to $77.71 as the company's stock rating was cut to "neutral" from "buy" at UBS earlier today, the Fly reports.

The firm also reduced its price target to $80 from $94 on shares of the Moline, IL-based agriculture and construction machinery company.

The downgrade is due to the drop in corn prices, which have fallen to $3.40 per bushel from $4.40 per bushel since June, according to the analyst note.

The lower prices mean that farmers will have less money to spend on farming equipment, thus limiting Deere's sales. Corn prices will most likely not increase because of less than ideal weather conditions along the U.S. corn belt, UBS added.

Th firm expects Deere's farm income to remain under pressure and negative sentiment on the shares to continue, the Fly noted.

Earlier this week, Deere's rating was downgraded to "underweight" from "neutral" at Piper Jaffray due to falling corn and grain prices and their anticipated negative effect on consumer demand for machinery.

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Ratings Team has a "Buy" rating with a score of B on the stock. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and notable return on equity.

The team believes its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

You can view the full analysis from the report here: DE

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