JPMorgan downgrades Deere (DE -1.2% to $75.88) to "Underweight" from "Overweight" and predicts...

|About: Deere & Company (DE)|By:, SA News Editor

JPMorgan downgrades Deere (DE -1.2% to $75.88) to "Underweight" from "Overweight" and predicts that the drought in the Midwest will hurt the company's tractor sales as farmers "take a "wait and see" attitude to equipment purchases towards year-end and into 2013." JPMorgan also cuts its price target for Deere to $78 from $98.