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After the company spent more than a year with a four-star rank in CAPS, enough top-performing CAPS members have turned bullish on Deere (NYSE: DE ) in the past month to have it now touching the coveted five-star level. A total of 2,473 members have given their opinion on Deere, with many of them offering analysis and commentary explaining the recent optimism.
Like virtually every company on the planet, Deere has felt the effects of the sour economy, yet its earnings outperformed peers like Terex (NYSE: TEX ) , Caterpillar (NYSE: CAT ) , and Manitowoc (NYSE: MTW ) in its recent quarter. Earnings performed better than analysts had expected, and the company said it still maintains a profit forecast of $1.1 billion for 2009. The company has benefited from cost controls and relative strength in large farm machinery in the U.S.; international growth remains a priority moving forward.
Deere says it's well positioned to respond to the world's growing demand for heavy equipment and is looking beyond the near-term slowdown. Other large U.S. corporations like PepsiCo (NYSE: PEP ) , Boeing (NYSE: BA ) , and ConocoPhillips (NYSE: COP ) are increasingly seeing Russia as a source of profit. Similarly, Deere's board recently approved a plan for a new manufacturing plant and parts center in Russia, where it plans to significantly expand its farm, forestry, and construction operations. Furthermore, it expects to benefit from emerging market infrastructure, as it has inked joint venture deals in both China and India. And with all the infrastructure stimulus going around, many CAPS members are bullish on the future outlook for machinery and equipment around the world.
Do you think Deere deserves its new, higher status? Add your thoughts in the comments box below, or head over to CAPS to rate it yourself. While you're at it, see what the very best CAPS analysts are saying now about the company.
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