UPDATE: Goldman Sachs Downgrades Deere on Lower US Farm Income and Capex
May 17, 2013 at 10:20 AM EDT
In a report published Friday , Goldman Sachs analyst Jerry Revich downgraded Deere (NYSE: DE ) from Neutral to Sell and lowered the price target from $98 to $85 following weak cyclical outlook. In the report, Goldman Sachs noted, "Recovering commodity inventories point to lower US farm income and capex.
