Barron's turns bearish on Deere (DE -4.4%) as events are playing out (earnings earlier) very...

|About: Deere & Company (DE)|By:, SA News Editor
Barron's turns bearish on Deere (DE -4.4%) as events are playing out (earnings earlier) very much like Wells Fargo's Andrew Casey said they would when he downgraded the stock in March. On the earnings call, Casey noted Deere is now calling for an 8% decline in U.S. crop cash flow. Management calls it a wiggle from a very high level. Casey believes it to be an inflection point. If strong Latin American demand is now the bull thesis, buy AGCO instead for its higher exposure to that region, says RBC's Glenn Novarro.