NEW YORK (TheStreet) -- "We are upgrading Deere & Co. (DE) to 'neutral' from 'underweight' after the company issued a downbeat FY'15 outlook that may signal trough earnings," JPMorgan analysts wrote today, raising its price target to $90 from $83.
Deere & Co., which operates in three segments, including agriculture and turf, construction and forestry and financial services, reported fourth quarter earnings per share of $1.83 vs. consensus $1.57 and JPM estimates of $1.63, analysts said.
"Management introduced its full year 2015 outlook, expecting equipment sales to be down 15% (implied $28.0B); it is expecting North America industry sales to be down about 25% to 30% in agriculture and turf and up 5% in construction and forestry," analysts added.
Shares of Deere & Co. are up 1.03% to $87.51 in pre-market trading.
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 notable return on equity, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share."