Saying they see Deere (NYSE:DE) continuing to perform strongly into 2011, based on their latest quarterly report, Argus Research maintains their "Buy" rating on them, while raising their price target significantly.
Argus said the latest quarterly results were "much better than we expected..." and believe that there will be "continued strong results in fiscal 2011."
Earnings estimates for full year 2011 were raised from $4.85 to $4.95 and set a full year 2012 estimate of $5.30.
Deere & Company closed Friday at $76.00, losing $0.23, or 0.30 percent. Argus raised their price target on them from $76 to $88.
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