Deere's (DE) price performance is unimpressive so far this year, reflecting a weak demand outlook for agricultural equipment amid low commodity prices and farm income.
John Deere has announced another wave of layoffs Friday, telling around 610 production staff at plants in Illinois and Iowa that they will be out of a job by the end of the summer.
Citi analyst Kyle Menges launched coverage of several U.S. machinery stocks. He has a Buy rating on Caterpillar stock, and a Hold rating on Deere’s.