BUZZ-Deere rises after Q2 earnings beat estimates

Reuters

05/15

** Agricultural-equipment maker Deere & Co DE.N shares up 1% to $502 in premarket trading

** Co posts Q2 adj EPS of $6.64 vs analysts' avg estimates of $5.58, according to data compiled by LSEG

** DE posts Q2 revenue of $11.2 bln vs estimates of $10.8 bln

** However, co cuts annual net income forecast to $4.75 bln -$5.5 bln, from $5 bln - $5.5 bln, over softer demand for tractors from farmers opting to rent machines instead

** Ten of 24 brokerages rate the stock "buy" or higher, 13 "hold" and 1 "sell"; their median PT is $500 - LSEG data

** As of last close, stock had risen 17.4% YTD

(Reporting by Apratim Sarkar)

((Apratim.Sarkar@thomsonreuters.com))

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