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By Market News Video Staff, Monday, November 29, 1:32 PM ET
Deere (NYSE:DE) was upgraded by Wells Fargo (NYSE:WFC) today, from market Perform to outperform as the firm said the heavy equipment maker will benefit from strong cash flows its customers are experiencing, gains in market share, and strength in its balance sheet. Wells Fargo hiked its valuation range for the stock to $90-$93 per share, from $74-$76 per share.
Deere shares are trading modestly lower on Monday.
At 8.29% of the portfolio, Deere is the top holding in the Agribusiness ETF (AMEX:MOO), trading lower by 1% today. Mosaic (NYSE:MOS) is the second largest holding at 7.94% of the fund, followed by Monsanto (NYSE:MON) at 7.65%.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors — anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors, commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow the performance trail wherever it leads us.
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