Story updated at 9:50 a.m. to reflect market activity.
Shares of Deere fell 0.7% to $82.29 in morning trading.
The analyst firm also lowered its EPS estimates for the farming equipment maker through 2016. Credit Suisse analysts now expect Deere to report earnings of $5.45 a share for 2015, down from previous estimates of $6.75 a share. The firm lowered its EPS estimates for 2016 to $6.75 a share from $8.35 a share.
The lower price target and EPS estimates are due to Deere seeing lower farm demand, according to Credit Suisse analysts.
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 several positive factors, 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 and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."You can view the full analysis from the report here: DE Ratings Report