Wells Fargo Analyst Sees Bottom for Ag Sales in Next 12-18 Months

The farm equipment demand cycle will reach a bottom in the next year to 18 months, according to Andrew Casey, analyst with Wells Fargo & Co.

An Oct. 10 report from Bloomberg cites Casey’s note to investors that raised the bank’s valuation of Deere & Co. shares from $85-$88 to $100-$103. “That turnaround will mean improved sales volumes and margins in Deere’s fiscal 2017 and 2018,” Casey said.

The report went on to say that…

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