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DE Upgraded by Wells Fargo

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%.


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