Story updated at 9:50 a.m. with market information.
Shares of Deere fell 1.8% to $85.34 in morning trading Thursday.
UBS raised its price target and estimates for Deere on Thursday, though it maintains its "sell" rating for the company. The change is driven mostly by operating margins.
Analysts Steven Fisher, Eric Crawford, and Cleve Rueckert wrote, "We are raising our FY14 EPS estimate to $7.50 from $7.20 to reflect the higher than expected FQ1. The balance of the year is generally unchanged. We raised our FY15 estimate by $0.05 (now $6.75) to reflect a lower expected share count."
Must Read: Farm Slowdown Fears Weigh on Deere & Co.
Separately, TheStreet Ratings team rates DEERE & CO as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate DEERE & CO (DE) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, good cash flow from operations, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: