Is MM still bullish on John Deere (DE US)?

Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.

Ask a question

The Latest Q&A

Question asked 26/02/2022

Is MM still bullish on John Deere (DE US)?

Hi James, Can you please comment on John Deere (DE) in the International Portfolio? It was looking so promising up until last week. Has something happened to cause the rapid decline in price and are you still bullish? Thanks Alex

Answer

Hi Alex,

Understandibly this is a common theme in todays report after the markets recent weakness i.e. does xyz sill look ok?

Yes, still bullish and long John Deere (DE US) in the International Equities Portfolio, they have tracked back to the bottom of their trading range. Some issues with supply chain has knocked the share price in the short term, however we like their exposure to agriculture and their dominance in the space. We are more included to ad to than cut this holding.

chart

Deere & Co (DE US)

LAST UPDATED 25/02/2022 16:38

Latest Reports

Afternoon report 24/04/2024

The Match Out: CPI dents equity rally ahead of ANZAC Day

Equities followed the US market higher this morning, also adding a little premium thanks to a handful of positive quarterly reports that were announced after the North American markets closed. That all took a back seat as inflation data printed late morning, CPI coming in hotter than expected which sent the market into a spin, falling ~0.6% at the time before finding some relief. In the end, the index closed little changed, a good result given the circumstances though largely thanks to support from the Big 4 banks.

Morning report 24/04/2024

Portfolio Positioning: Bonds fell, dragging stocks along for the ride, both are now basing in our opinion

Bond markets have struggled over recent weeks as inflation appeared increasingly “sticky,” but it hardly registers on the chart compared to their weakness through 2021/2 and mid-2023. We believe the local credit markets have come back to realistic levels as the RBA awaits further economic data to deliver clarity on the underlying strength and direction of the local economy. Traders have gone from being far too optimistic on rate cuts into Christmas to becoming almost pessimistic; the US futures markets have gone from pricing in three cuts to 1.77 cuts, or one definitely, and probably two.