These Analysts Revise Their Forecasts On Deere After Q3 Results
Portfolio Pulse from Lisa Levin
Deere & Co (NYSE:DE) reported better-than-expected Q3 earnings with net sales and revenue growth of 12% Y/Y to $15.80 billion, beating the consensus of $14.25 billion. EPS of $10.20 also surpassed the consensus of $8.20. The company raised its FY23 outlook for net income to $9.75 billion-$10.00 billion from $9.25 billion-$9.50 billion. Despite the positive results, Deere shares fell 5.3% to close at $397.02 on Friday but added 0.3% in today’s pre-market trading session. JP Morgan, Credit Suisse, and UBS revised their price targets on Deere following the earnings announcement.
August 21, 2023 | 12:25 pm
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Deere & Co reported strong Q3 earnings and raised its FY23 outlook. However, its shares fell 5.3% on Friday but added 0.3% in pre-market trading. Analysts from JP Morgan, Credit Suisse, and UBS revised their price targets on Deere.
Despite reporting better-than-expected Q3 earnings and raising its FY23 outlook, Deere's shares fell 5.3% on Friday. This could be due to market volatility or other factors not mentioned in the article. However, the shares recovered slightly in pre-market trading, indicating a potential positive sentiment among investors. The revised price targets by JP Morgan, Credit Suisse, and UBS could also influence the stock's performance in the short term.
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