Deere & Company (NYSE:DE) received some bullish love from Wall Street analysts at Stifel Nicolaus on Tuesday, as the agriculture and construction equipment maker continues to hover near all-time highs.

Written by StockNews.com

Stifel started coverage on DE with:

• A Buy rating
• and $126 price target, suggesting a 15% upside to the stock’s Monday closing price of $109.73.

Analyst Stanley Elliott notes that both the Agricultural & Turf markets and Construction & Forestry markets have been under considerable pressure since 2013/2014, yet the company has still managed decrements in the mid-20% range. With many of these markets now appearing to firm up, DE is in the driver’s seat to enjoy accelerating growth... [believing that] those markets will begin to turn in 2018, and Deere’s cost take-outs can provide additional upside to margins.

Based in Moline, IL, Deere is a leading manufacturer of agricultural and construction machinery such as small and large row crop tractors, combine harvesters, sprayers, and planters as well as construction and forestry equipment, and related financial services.

...Year-to-date, DE has gained 7.22%, versus a 5.57% rise in the benchmark S&P 500 index during the same period.

DE currently has a StockNews.com POWR Rating of A (Strong Buy), and is ranked #5 of 56 stocks in the Industrial – Machinery category.