Monsanto Co. (NYSE: MON), Deere & Company (NYSE: DE), Weyerhaeuser (NYSE: WY), Spectra Energy Partners, LP (NYSE: SEP) and National-Oilwell Varco, Inc. (NYSE: NOV) had ratings and price targets on them adjusted by analysts.
Deere & Company (DE) was downgraded by ISI Group from a “Buy” rating to a “Hold” rating. They have a price target of $94.00 on the company.
Weyerhaeuser (WY) had its price target raised by BMO Capital Markets from $16.00 to $20.00. They have an “Underperform” rating on the company.
Monsanto Co. (MON) was downgraded by Monness Crespi & Hardt from a “Neutral” rating to a “Sell” rating.
Spectra Energy Partners, LP (SEP) had its price target lowered by Wunderlich from $35.00 to $31.00. They have a “Hold” rating on the company.
National-Oilwell Varco, Inc. (NOV) was downgraded by Bank of America (NYSE:BAC) to an “Underperform” rating.
Showing posts with label Deere Co. Show all posts
Showing posts with label Deere Co. Show all posts
Monday, February 6, 2012
Friday, January 20, 2012
LDK (LDK) (JKS) (NE) (DE) (CAT) (CSIQ) Ratings, Price Targets
LDK Solar (NYSE: LDK), JinkoSolar Holding Co., Ltd. (NYSE: JKS), Noble (NYSE: NE), Deere & Company (NYSE: DE), Caterpillar Inc. (NYSE: CAT) and Canadian Solar Inc. (NASDAQ: CSIQ) ratings and price targets.
Auriga initiated coverage on JinkoSolar Holding Co., Ltd. (JKS). They placed a “Hold” rating on the company.
Auriga initiated coverage on LDK Solar (LDK). They placed a “Sell” rating on the company.
Noble (NE) was given a price target of $45.00 by FBR Capital.
Deere & Company (DE) had its price target raised by Robert W. Baird from $87.00 to $90.00. They have a “Neutral” rating on the company.
Caterpillar Inc. (CAT) had its price target raised by Robert W. Baird from $114.00 to $135.00. They have an “Outperform” rating on the company.
Auriga initiated coverage on Canadian Solar Inc. (CSIQ). They placed a “Hold” rating on the company.
Auriga initiated coverage on JinkoSolar Holding Co., Ltd. (JKS). They placed a “Hold” rating on the company.
Auriga initiated coverage on LDK Solar (LDK). They placed a “Sell” rating on the company.
Noble (NE) was given a price target of $45.00 by FBR Capital.
Deere & Company (DE) had its price target raised by Robert W. Baird from $87.00 to $90.00. They have a “Neutral” rating on the company.
Caterpillar Inc. (CAT) had its price target raised by Robert W. Baird from $114.00 to $135.00. They have an “Outperform” rating on the company.
Auriga initiated coverage on Canadian Solar Inc. (CSIQ). They placed a “Hold” rating on the company.
Friday, June 10, 2011
Potash (POT) (CF) (MOS) (AGU) (MON) (DE) Jump on Record Corn Futures
Potash (NYSE:POT), CF Industries (NYSE:CF), Mosaic (NYSE:MOS), Agrium (NYSE:AGU) and Monsanto (NYSE:MON) close up as corn futures settle at record price.
Also climbing was Deere & Co. (NYSE:DE), as the manufacturer of farm, turf and lawn equipment usually moves up on positive agriculture news.
Corn futures soared to a new settlement price record, with the July front-month contract rising 21 cents, or 2.8 percent, to settle at $7.854 a bushel on the Chicago Board of Trade. It reached as high as $7.93 before pulling back.
Lower acreage planted in the U.S., rising demand from China, and weather-related crop damage is pushing the price of corn up.
Wasting corn supply on ethanol is also weighing on the corn equation.
Potash closed Thursday at $55.36, gaining $2.12, or 3.98 percent. CF Industries closed at $154.86, soaring $6.24, or 4.20 percent. Mosaic closed at $68.84, rising $3.18, or 4.84 percent. Agrium ended the day at $84.71, jumping $2.76, or 3.37 percent. Monsanto closed at $69.51, up $1.89, or 2.80 percent. Deere closed at $82.00, increasing $2.04, or 2.55 percent.
Also climbing was Deere & Co. (NYSE:DE), as the manufacturer of farm, turf and lawn equipment usually moves up on positive agriculture news.
Corn futures soared to a new settlement price record, with the July front-month contract rising 21 cents, or 2.8 percent, to settle at $7.854 a bushel on the Chicago Board of Trade. It reached as high as $7.93 before pulling back.
Lower acreage planted in the U.S., rising demand from China, and weather-related crop damage is pushing the price of corn up.
Wasting corn supply on ethanol is also weighing on the corn equation.
Potash closed Thursday at $55.36, gaining $2.12, or 3.98 percent. CF Industries closed at $154.86, soaring $6.24, or 4.20 percent. Mosaic closed at $68.84, rising $3.18, or 4.84 percent. Agrium ended the day at $84.71, jumping $2.76, or 3.37 percent. Monsanto closed at $69.51, up $1.89, or 2.80 percent. Deere closed at $82.00, increasing $2.04, or 2.55 percent.
Tuesday, October 12, 2010
Deere (NYSE:DE), CNH Global (NYSE:CNH), AGCO (Nasdaq:AGCO) and Lower Crop Yields
Agricultural stocks have been blazing as corn, soybean and wheat ending stocks were all lowered from prior estimates, with corn falling 21 percent and soybeans 26 percent below consensus. Wheat dropped 5 percent below former projections, 2 percent below consensus.
UBS (NYSE:UBS) said this about the changes, "USDA lowered its forecast of 2010/11 corn production to 12.664B bushels, from 13.160B bu, on lower corn yield. Also, USDA lowered its forecast of 2010/11 ending corn stocks to 902M bu, from 1.116B bu, 21% below the consensus forecast of 1.149B bu. USDA lowered its soybean ending stocks forecasts to 265M bu (26% below consensus of 356M), and lowered its wheat ending stocks forecast by 5% to 853M bu (2% below consensus of 870M). Given that forecasted corn and soybean ending stocks were well below consensus, we see the report as bullish for corn and soybean prices."
UBS kept a "Neutral" rating on Deere (NYSE:DE) and CNH Global (NYSE:CNH), while maintaining a "Sell" on AGCO (Nasdaq:AGCO), as farm as farm machinery makers go.
Lower yields should result in higher prices and margins, which could end up with farmers ordering more new machinery.
UBS (NYSE:UBS) said this about the changes, "USDA lowered its forecast of 2010/11 corn production to 12.664B bushels, from 13.160B bu, on lower corn yield. Also, USDA lowered its forecast of 2010/11 ending corn stocks to 902M bu, from 1.116B bu, 21% below the consensus forecast of 1.149B bu. USDA lowered its soybean ending stocks forecasts to 265M bu (26% below consensus of 356M), and lowered its wheat ending stocks forecast by 5% to 853M bu (2% below consensus of 870M). Given that forecasted corn and soybean ending stocks were well below consensus, we see the report as bullish for corn and soybean prices."
UBS kept a "Neutral" rating on Deere (NYSE:DE) and CNH Global (NYSE:CNH), while maintaining a "Sell" on AGCO (Nasdaq:AGCO), as farm as farm machinery makers go.
Lower yields should result in higher prices and margins, which could end up with farmers ordering more new machinery.
Friday, October 8, 2010
CNH (NYSE:CNH), Deere (NYSE:DE), Agco (NYSE:AGCO) Skyrocket on Lower Corn Projections
The downward adjustment of corn production by the U.S. Department of Agriculture has driven up stocks in the agriculture sector Friday, including farm equipment makers CNH Global NV, (NYSE:CNH), Deere & Co. (NYSE:DE) and Agco Corp. (NYSE:AGCO)
Major fertilizer movers are CF Industries (NYSE:CF), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU).
For the farm equipment companies, leading the sector is CNH Global NV, which stood at $41.34, gaining $3.65, or 9.68 percent at 1:38 PM EDT. Agco Corp. was right behind them, rising to $42.81, a gain of $3.60, or 9.18 percent. Deere surged to $76.32, gaining $4.42, or 6.15 percent.
Corn, wheat and soybeans were all up on the downwardly revised corn expectations.
Major fertilizer movers are CF Industries (NYSE:CF), Mosaic (NYSE:MOS) and Agrium (NYSE:AGU).
For the farm equipment companies, leading the sector is CNH Global NV, which stood at $41.34, gaining $3.65, or 9.68 percent at 1:38 PM EDT. Agco Corp. was right behind them, rising to $42.81, a gain of $3.60, or 9.18 percent. Deere surged to $76.32, gaining $4.42, or 6.15 percent.
Corn, wheat and soybeans were all up on the downwardly revised corn expectations.
Tuesday, October 5, 2010
Caterpillar (NYSE:CAT), Deere (NYSE:DE), Cummins (NYSE:CMI), AGCO (Nasdaq:AGCO) and Eaton (NYSE:ETN) among Favorites of Barclays (NYSE:BCS) for Brazil Exposure
In their recent research trip to Brazil concerning building out their infrastructure, Barclays (NYSE:BCS) came away with several favorites in the machinery sector serving the build-out, including Caterpillar (NYSE:CAT), Cummins (NYSE:CMI), Deere (NYSE:DE), AGCO (Nasdaq:AGCO) and Eaton (NYSE:ETN)
The two favorites of Barclays in the entire group are Caterpillar and CMI.
Overall, Barclays said after talking to these and many other players in Brazilian infrastructure projects, the feeling is things are picking up and those companies with large exposure should reap strong rewards going forward, as expenditures are increasing.
Brazil has been overshadowed by China and to a lesser extent India recently, and it may be their time to shine as significant capital is generated from a variety of energy sectors and projects.
Other companies they met with in the equipment industry were Terex (NYSE:TEX) and Bucyrus International (Nasdaq:BUCY).
The two favorites of Barclays in the entire group are Caterpillar and CMI.
Overall, Barclays said after talking to these and many other players in Brazilian infrastructure projects, the feeling is things are picking up and those companies with large exposure should reap strong rewards going forward, as expenditures are increasing.
Brazil has been overshadowed by China and to a lesser extent India recently, and it may be their time to shine as significant capital is generated from a variety of energy sectors and projects.
Other companies they met with in the equipment industry were Terex (NYSE:TEX) and Bucyrus International (Nasdaq:BUCY).
Monday, October 4, 2010
JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC) Downgrade Deere (NYSE:DE)
Deere & Company (NYSE:DE) suffered two downgrades, as JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) believe they're at the top of their valuation, increasing almost 30 percent since the early part of July.
Wells Fargo's Andrew Cases slashed Deere from "Outperform" to "Market Perform," while JP Morgan's Ann Duignan lowered the agricultural manufacturer from "Overweight" to "Neutral."
A drought in Russia and the resultant increase in corn prices and other crops has helped the industry surge to higher levels, including Caterpillar (NYSE:CAT), which has also pushed up close to yearly highs.
Caterpillar is moving up for different reasons, as the mining sector also has prices surging and mining and construction equipment sales have been in higher demand because of it.
In the near term it looks like they'll have a hard time moving much higher, and will probably remain level for a while.
Wells Fargo's Andrew Cases slashed Deere from "Outperform" to "Market Perform," while JP Morgan's Ann Duignan lowered the agricultural manufacturer from "Overweight" to "Neutral."
A drought in Russia and the resultant increase in corn prices and other crops has helped the industry surge to higher levels, including Caterpillar (NYSE:CAT), which has also pushed up close to yearly highs.
Caterpillar is moving up for different reasons, as the mining sector also has prices surging and mining and construction equipment sales have been in higher demand because of it.
In the near term it looks like they'll have a hard time moving much higher, and will probably remain level for a while.
Thursday, September 2, 2010
BHP (NYSE:BHP), Freeport (NYSE:FCX) and Alcoa (NYSE:AA) Advance on Weakening Dollar
While the U.S. manufacturing report posted better numbers than believed, the drop in the value of the U.S. dollar was the impetus behind mining companies surging Wednesday.
Oddly, the cut in jobs in the private sector for August was largely shrugged off by those desperate to grasp onto any positive economic news, which has been very little lately.
For BHP Billiton (NYSE:BHP), Freeport McMoRan (NYSE:FCX) and Alcoa (NYSE:AA), they enjoyed the weakening of the dollar which is always a boost to commodity prices.
The index from the Institute for Supply Management showed a reading of 56.3 in August, whereas analysts had been looking for it to drop to 52.9.
While the mining sector performed the best, manufacturers like Deere (NYSE:DE), General Electric (NYSE:GE) and Caterpillar (NYSE:CAT) were beneficiaries of the index number increase as well.
The Dow rose by over 250 point Wednesday in response to the news.
Oddly, the cut in jobs in the private sector for August was largely shrugged off by those desperate to grasp onto any positive economic news, which has been very little lately.
For BHP Billiton (NYSE:BHP), Freeport McMoRan (NYSE:FCX) and Alcoa (NYSE:AA), they enjoyed the weakening of the dollar which is always a boost to commodity prices.
The index from the Institute for Supply Management showed a reading of 56.3 in August, whereas analysts had been looking for it to drop to 52.9.
While the mining sector performed the best, manufacturers like Deere (NYSE:DE), General Electric (NYSE:GE) and Caterpillar (NYSE:CAT) were beneficiaries of the index number increase as well.
The Dow rose by over 250 point Wednesday in response to the news.
Wednesday, September 1, 2010
Deere (NYSE:DE) Sells Wind Energy Business to Exelon (NYSE:EXC)
Deere (NYSE:DE) announced it is selling it wind energy business to a subsidiary of Exelon Corp. (NYSE:EXC) for $900 million.
With the recession continuing on, energy prices remain flat, and will for some time, so organic growth isn't going to happen for these companies.
But the low-price atmosphere is also connected to markets, and that is providing companies like Exelon with good opportunities to snap up companies relatively cheap.
That's why companies with a lot of cash on hand are positioned much stronger than those that aren't, as they can do this with little or no leverage.
Even though Deere had wanted to wait until prices increased for the wind farm, economic data reveals that could be a long wait, and they didn't want to continue with the distraction.
Deere said they want to get back to their core business of building farm equipment.
The rural factor is the reason they entered the wind business in the first place, but other then putting these ugly things on land, there really wasn't much connection.
The deal should close by the end of 2010.
With the recession continuing on, energy prices remain flat, and will for some time, so organic growth isn't going to happen for these companies.
But the low-price atmosphere is also connected to markets, and that is providing companies like Exelon with good opportunities to snap up companies relatively cheap.
That's why companies with a lot of cash on hand are positioned much stronger than those that aren't, as they can do this with little or no leverage.
Even though Deere had wanted to wait until prices increased for the wind farm, economic data reveals that could be a long wait, and they didn't want to continue with the distraction.
Deere said they want to get back to their core business of building farm equipment.
The rural factor is the reason they entered the wind business in the first place, but other then putting these ugly things on land, there really wasn't much connection.
The deal should close by the end of 2010.
Friday, August 20, 2010
JPMorgan (NYSE:JPM) Likes Newmont (NYSE:NEM), Freeport (NYSE:FCX), Caterpillar in Near Term
In a report from JPMorgan (NYSE:JPM), they advised investors to focus on companies which would benefit from an economic rebound, including commodity companies like Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) and Newmont Mining (NYSE:NEM), and those providing equipment for them like Deere & Co. (NYSE:DE) and Caterpillar (NYSE:CAT).
Some other companies noted were CMS Energy Corp. (NYSE:CMS), Entergy Corp. (NYSE:ETR), and Ashland (NYSE:ASH), among a number unrelated to raw materials.
The report focuses on what JPMorgan called the “Circle of Life,” which refers to companies holding assets which follow cycles of peaking, breaking down, bottoming and recovery, said the banker.
What seems to be the major problem with the premise is it's completely based on JPMorgan's guess that the U.S. economy will actually recover, which most data show it isn't, and taking away the stimulus, probably has never left the recession.
JPMorgan Chief U.S. Equity Strategist Thomas J. Lee, said this in the report, “We remain confident that the U.S. economy is unlikely to enter a ‘double-dip’ scenario. It is more appropriate to focus on the areas that are likely to benefit as activity levels normalize.”
That is so unlikely as to not be taken seriously, but even as the recession continues, that doesn't mean some of these companies may prove to be profitable.
Newmont, for example, will no doubt surge, as the price of gold continues to rise, and possibly those providing equipment and machinery to miners and agriculture, like Caterpillar and Deere, could also move higher as demand continues to grow. But that should probably be looked at as long-term scenarios rather than short-term, as far as machinery providers go.
The weak housing market could possibly offset the revenue and earnings from big equipment companies, but they at least have some positive support in some of the segments.
Some other companies noted were CMS Energy Corp. (NYSE:CMS), Entergy Corp. (NYSE:ETR), and Ashland (NYSE:ASH), among a number unrelated to raw materials.
The report focuses on what JPMorgan called the “Circle of Life,” which refers to companies holding assets which follow cycles of peaking, breaking down, bottoming and recovery, said the banker.
What seems to be the major problem with the premise is it's completely based on JPMorgan's guess that the U.S. economy will actually recover, which most data show it isn't, and taking away the stimulus, probably has never left the recession.
JPMorgan Chief U.S. Equity Strategist Thomas J. Lee, said this in the report, “We remain confident that the U.S. economy is unlikely to enter a ‘double-dip’ scenario. It is more appropriate to focus on the areas that are likely to benefit as activity levels normalize.”
That is so unlikely as to not be taken seriously, but even as the recession continues, that doesn't mean some of these companies may prove to be profitable.
Newmont, for example, will no doubt surge, as the price of gold continues to rise, and possibly those providing equipment and machinery to miners and agriculture, like Caterpillar and Deere, could also move higher as demand continues to grow. But that should probably be looked at as long-term scenarios rather than short-term, as far as machinery providers go.
The weak housing market could possibly offset the revenue and earnings from big equipment companies, but they at least have some positive support in some of the segments.
Morgan Stanley (NYSE:MS) Increases Deere (NYSE:DE) Price Target
Morgan Stanley (NYSE:MS) upped the price target of Deere & Co. (NYSE:DE) Thursday to $75 a share, saying consolidation in the industry is underestimated.
Morgan Stanley's Alexander Vecchio, Robert Wertheimer and Joseph O'Dea wrote in a note, "In our view, consensus underestimates the impact of consolidation in the US farmer and DE's strong position in the construction market, which should recover even in a weak economy. The company has executed extremely well through the downturn in our view. 2Q/3Q [agriculture] margins at record levels, and high end of historical range even adjusting for 2 points of [positive] mix."
The idea the construction equipment market will do well no matter if the economy is in a downturn isn't too convincing to me.
I would agree with that if they're including the mining industry equipment market, where strong earnings for many could result in increased investment.
Morgan Stanley's Alexander Vecchio, Robert Wertheimer and Joseph O'Dea wrote in a note, "In our view, consensus underestimates the impact of consolidation in the US farmer and DE's strong position in the construction market, which should recover even in a weak economy. The company has executed extremely well through the downturn in our view. 2Q/3Q [agriculture] margins at record levels, and high end of historical range even adjusting for 2 points of [positive] mix."
The idea the construction equipment market will do well no matter if the economy is in a downturn isn't too convincing to me.
I would agree with that if they're including the mining industry equipment market, where strong earnings for many could result in increased investment.
Thursday, August 19, 2010
Caterpillar (NYSE:CAT) Sales Soar from June to July
Global retail sales for Caterpillar Inc. (NYSE:CAT) surged in the period from June 10 and July 10, rising by 32 percent over the same period last year.
China as been the catalyst behind the sales, increasing 41 percent in July, 36 percent in June, and 38 percent in May.
There was also growth in the Middle East and Europe, although at a more modest 19 percent clip.
Year-over-year, worldwide sales for Caterpillar have risen 11 percent, following over 17 months of declines.
There are concerns for the overall sector, including Deere and Company (NYSE:DE), which enjoyed an increase in earnings of 47 percent in the last quarter, but has analysts and investors unconvinced on whether these numbers are really sustainable.
China as been the catalyst behind the sales, increasing 41 percent in July, 36 percent in June, and 38 percent in May.
There was also growth in the Middle East and Europe, although at a more modest 19 percent clip.
Year-over-year, worldwide sales for Caterpillar have risen 11 percent, following over 17 months of declines.
There are concerns for the overall sector, including Deere and Company (NYSE:DE), which enjoyed an increase in earnings of 47 percent in the last quarter, but has analysts and investors unconvinced on whether these numbers are really sustainable.
Monday, August 16, 2010
Citigroup (NYSE:C) Raises Deere (NYSE:DE) Price Target
Citigroup (NYSE:C) said it has increased its price target on Deere & Company (NYSE:DE) to $75. Earnings estimates were also raised, while a "Buy" rating was maintained.
Citigroup's Timothy Thein said in a note, "Our price target, and relative ranking amongst Buy rated names, both go up for DE as we see better N.A. large Ag equipment demand, and a more favorable price/cost spread driving upside to near-term numbers. Importantly for the stock, global grain price outlook has improved meaningfully on a tighter supply/demand outlook, with Citi Futures forecasting 8.2% stock-to-use for 2010-11 US corn crop (well below current USDA est. of 9.7%). In the last 30 crop years, US corn STU has fallen below 10% twice (95/96 and & 03/04) - two periods of solid relative outperformance for DE stock."
With the economic conditions much worse than has been reported, commodity prices are back in favor in a big way, which has been driving up the price and optimism concerning companies serving that market, like Deere does with its mining and farming machinery, and other companies like miners who are directly involved with commodities.
There's nothing in the economic outlook suggesting this will change any time soon.
Citigroup's Timothy Thein said in a note, "Our price target, and relative ranking amongst Buy rated names, both go up for DE as we see better N.A. large Ag equipment demand, and a more favorable price/cost spread driving upside to near-term numbers. Importantly for the stock, global grain price outlook has improved meaningfully on a tighter supply/demand outlook, with Citi Futures forecasting 8.2% stock-to-use for 2010-11 US corn crop (well below current USDA est. of 9.7%). In the last 30 crop years, US corn STU has fallen below 10% twice (95/96 and & 03/04) - two periods of solid relative outperformance for DE stock."
With the economic conditions much worse than has been reported, commodity prices are back in favor in a big way, which has been driving up the price and optimism concerning companies serving that market, like Deere does with its mining and farming machinery, and other companies like miners who are directly involved with commodities.
There's nothing in the economic outlook suggesting this will change any time soon.
Friday, April 2, 2010
Deere (NYSE: DE) Acquires Beit Hashita Metal Industries
Deere Acquires Beit Hashita Metal Industries
Deere Co. (NYSE:DE) has acquired Israeli manufacturer Beit Hashita Metal Industries. Beit Hashita Metal manufactures machinery and agricultural implements for the industry.
The deal was actually closed earlier in the week after a District Court in Nazareth approved of the sale of the assets as part of a settlement with creditors.
The offer for Beit Hashita Metal Industries Ltd. was initially made in December 2009, and was waiting on due diligence before being concluded and formalized.
Deere Co. (NYSE:DE) has acquired Israeli manufacturer Beit Hashita Metal Industries. Beit Hashita Metal manufactures machinery and agricultural implements for the industry.
The deal was actually closed earlier in the week after a District Court in Nazareth approved of the sale of the assets as part of a settlement with creditors.
The offer for Beit Hashita Metal Industries Ltd. was initially made in December 2009, and was waiting on due diligence before being concluded and formalized.
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