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Upgrade Alert for Deere (DE)

By Amy Schwartz

Deere (NYSE:DE) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $87.45 on volume of 3.6 million shares, above average daily volume of 3.0 million.

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.

Based on a current price of $87.49, Deere is currently 12.3% above its average consensus analyst price target of $76.75. Deere shares have support at the 50-day moving average (MA) of $80.91 and additional support at the 200-day MA of $80.09.

Over the past year, Deere has traded in a range of $70.16 to $98.23 and closed yesterday at $87.49, 25% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.5%.

SmarTrend is tracking the current trend status for Deere and will alert subscribers who have DE in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Deere

Ticker(s): DE