Shares of farming-equipment maker Deere (DE) are now down more than 30% from their all-time highs to $304 and change per share. It's been a brutal plunge as investors brace for a recession that could accompany a bit of discretionary demand destruction. Despite coming off a somewhat decent second quarter of earnings (revenue was a bit light), Deere stock has fallen into the headlights of the vicious broader market sell-off. Though management is still shooting for a high operating margin target, it's tough to gauge how bumpy the road ahead will be, especially since 2023 holds a rate-induced recession.
https://www.tipranks.com/news/article/deere-stock-an-intriguing-value-even-with-a-looming-recession?utm_source=advfn.com&utm_medium=referral
Deere (NYSE:DE)
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Deere (NYSE:DE)
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