The firm maintained an "outperform" rating on shares of the Moline, IL-based agricultural equipment company.
In Deere's third quarter earnings call on August 19, the company estimated that it could generate at least $500 million in savings by 2018 assuming large agricultural stays at current depressed levels.
Credit Suisse noted that Deere has a "better track record than peers" in executing these types of goals, but should be focusing on buying back stock and providing clarity on what's behind the $500 million in savings.
"Even so, we believe the market likely underappreciates Deere's EPS power assuming a more muted recovery," the firm added.
However, Morgan Stanley wrote in a note cited by the Fly this morning that the stock is "priced for perfection." The firm upped its price target on Deere stock to $77 from $70, maintaining an "underweight" rating.
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 rated this stock as a "buy" with a ratings score of B.
The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, good cash flow from operations and notable return on equity. We feel 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