NewTradingView.com – Investing and Stock News
Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick
Investing

Deere shares are a ‘buy’ amidst food price inflation: Gina Sanchez

by July 29, 2022
written by July 29, 2022

Deere & Company (NYSE: DE) is a great pick amidst the Ukraine war and food inflation that topped 10% last month, says Gina Sanchez. She’s the CEO of Chantico Global.

Deere shares have been resilient this year

Deere shares are down only 2.0% this year – an accomplishment considering the broader market is still down about 15%. Making her bull case on CNBC’s “The Exchange”, Sanchez said:

Because food prices are high, farmers are making tons of money. And when you see big farm receipts, the next year you see big tractor buying. This is huge for John Deere; it has the best tech options for the farmers.

In May, Deere forecast continued demand for farm equipment and raised its full-year guidance. It now expects to earn up to $7.40 billion this year.  

Deere shares are trading at a PE multiple of 17.90 at the time of writing, versus an average of 21.79 over the past five years.

Wall Street is ‘overweight’ Deere stock

Consensus is for the industrial firm to see about a 24% increase in the top and bottom line this quarter. More importantly, though, Sanchez says “AgTech” is just as pivotal in this environment as energy.

Deere’s been focused on building tractors that can evaluate where to plant seeds for best crop yields. If Ukraine continues to be a war zone, “ag” play is equally catastrophic to inflation story. So, farmers must be able to get the best yields.

The global precision agriculture market is expected to grow at a CAGR of 11.4% and more than double in size from 2022 through 2028; and “DE” sits right at the heart of that growth.

Wall Street currently has a consensus “overweight” rating on the stock with upside to $389 on average.

The post Deere shares are a ‘buy’ amidst food price inflation: Gina Sanchez appeared first on Invezz.

0 comment
0
FacebookTwitterPinterestEmail

previous post
Should you buy Intel stock on post earnings weakness?
next post
Is AMC Networks a good buy as analysts issued a hold rating

You may also like

Sonos stock plunges after weak demand encourage forecast...

August 13, 2022

Tornado Cash: TORN dips after reported developer arrest

August 12, 2022

Nvidia recovers 22% in a month, but how...

August 12, 2022

This beaten down Cathie Wood stock is a...

August 12, 2022

Peloton reveals new measures to cut costs

August 12, 2022

FTX and Paradigm partner to launch futures spread...

August 12, 2022

Is Apple indeed immune to a recession?

August 12, 2022

Bitcoin and Ethereum are ‘great long-term investments’- Anthony...

August 12, 2022

Ethereum network is at ‘pivotal moment’, says BTC...

August 12, 2022

Olo shares opened 35% down on Friday: buy...

August 12, 2022
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Popular Posts

  • 1

    Lessons From Penny Stock Legend Tim Grittani, the $13 Million Man!

  • 2

    Is Wokeness the New Sumptuary Laws?

  • 3

    Berg Insight says global cellular IoT connections grew 22 percent to reach 2.1 billion in 2021

  • 4

    Rethinking Regulatory Capture

  • 5

    Revisiting the Sage of Monticello

Recent Posts

  • We Can’t Breathe!

    August 13, 2022
  • Andrew Jackson: Man of the People

    August 13, 2022
  • Sonos stock plunges after weak demand encourage forecast cut

    August 13, 2022
  • Tornado Cash: TORN dips after reported developer arrest

    August 12, 2022
  • Nvidia recovers 22% in a month, but how sustainable are the gains?

    August 12, 2022

Categories

  • Economy (104)
  • Editor's Pick (34)
  • Investing (258)
  • Stock (19)
  • About Us
  • Email Whitelisting
  • Terms and Conditions
  • Privacy Policy
  • Contacts

Disclaimer: NewTradingView.com, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


Copyright © 2022 NewTradingView.com All Rights Reserved.


Back To Top
NewTradingView.com – Investing and Stock News
  • Investing
  • Stock
  • Economy
  • Editor’s Pick