Why Deere Stock Hit an All-Time High This Week
The recovery cycle for Deere's equipment could be just beginning.
Overview
Deere & Co. (NYSE: DE) stock had a strong week, hitting a record high above $700 per share. Shares have jumped 10% since last Friday's close, according to data provided by S&P Global Market Intelligence.
After a strong fiscal third-quarter report on Aug. 20, Deere boosted the low end of its full-year net income guidance by $250 million. One analyst thinks that signals the start of a recovery cycle in agricultural equipment sales, and thinks Deere stock is still a buy near its record high.
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Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.