Deere Strong Outlook Expected Despite Risks: Goldman Sachs Weighs In Ahead Of Thursday Earnings
Portfolio Pulse from Henry Khederian
Goldman Sachs maintains a positive outlook on Deere & Co (NYSE: DE) ahead of its third-quarter earnings report, despite potential risks in its captive finance business. The company is expected to report EPS of $5.77 on revenue of $10.944 billion. Goldman Sachs highlights the resilience of Deere's finance operations and projects a 12-month price target of $466, maintaining a Buy rating.
August 14, 2024 | 6:58 pm
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Goldman Sachs maintains a Buy rating on Deere & Co (NYSE: DE) ahead of its Q3 earnings report, highlighting the resilience of its finance operations. The company is expected to report EPS of $5.77 on revenue of $10.944 billion. Despite potential risks, the outlook remains positive with a 12-month price target of $466.
Goldman Sachs' positive outlook and Buy rating, along with a favorable 12-month price target, are likely to boost investor confidence in Deere & Co. The resilience of its finance operations and expected strong earnings report further support a positive short-term impact on the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100