Downgrade Alert for Deere (DE)
Deere (NYSE:DE) was downgraded from Neutral to Underweight at Piper Jaffray today. The stock closed yesterday at $77.92 on volume of 7.4 million shares, above average daily volume of 3.0 million.
Deere share prices have moved between a 52-week high of $98.23 and a 52-week low of $70.16 and closed yesterday at 11% above that low price at $77.92 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.
Deere (NYSE:DE) defies analysts with a current price ($77.92) 1.5% above its average consensus price target of $76.75. Deere shares should first meet resistance at the 200-day moving average (MA) of $80.09 and find additional resistance at the 50-day MA of $80.91.
Deere & Company manufactures and distributes a range of agricultural, construction and forestry, and commercial and consumer equipment. The Company supplies replacement parts for its own products and for those of other manufacturers. Deere also provides product and parts financing services.
SmarTrend is monitoring the recent change of momentum in Deere. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Deere in search of a potential trend change.
Keywords: analyst upgrades/downgrades Deere