Raising Deere & Co's Fair Value Estimate as Its End Markets Show Signs of Bottoming
We are increasing Deere & Co’s fair value estimate to $104 from $97 to reflect the time value of money since our last update and a more favorable earnings outlook for 2017 than we initially projected. For 2017, the company expects its agriculture & turf segment sales to contract 1%, while its construction & forestry sales are forecast to grow 1%. In response, 2017 net income should decline 8% to $1.4 billion reflecting continued headwinds from poor product mix and higher loss provisi...Deere & Co. operates the following segments: Agriculture and Turf, which manufactures and distributes a line of agriculture and turf equipment and related service parts, including utility tractors, tractor loaders, combines, cotton pickers, cotton strippers, and sugarcane harvesters; Construction and Forestry, which manufactures and distributes a range of machines and service parts used in construction, earthmoving, road building, material handling and timber harvesting, including backhoe loaders and crawler dozers and loaders; and Financial Services, which finances sales and leases by the company's dealers of new and used agriculture and turf equipment and construction and forestry equipment.
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