Will This Price Target Decrease Hurt Deere (DE) Stock Today?

Story updated at 9:55 a.m.to reflect market activity.

NEW YORK (TheStreet) -- Credit Suisse cut its price target for Deere (DE) to $98 from $104 Thursday, reiterating its “outperform” rating for the stock.

Shares of Deere fell -0.6% to $83.99 in morning trading.

The analyst firm also lowered its EPS estimates for the company through 2016. The lower numbers are a result of Deere’s new, lower guidance according to Credit Suisse analyst Jamie Cook.

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Separately, TheStreet Ratings team rates DEERE & CO as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate DEERE & CO (DE) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

DE ChartDE data by YCharts

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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