Deere & Co. (NYSE:DE): JPMorgan has downgraded Deere to Underweight from Neutral and lowered its price target for shares to $76 from $91, as the firm believes that U.S. crop fundamentals are set to decline. JPMorgan notes that the USDA’s latest projections indicate major crop receipts are expected to drop 12 percent in 2013 and 2014.
Isis Pharmaceuticals (NASDAQ:ISIS): BMO Capital thinks that the company’s ISIS-APOCIII-Rx in type 2 diabetics with high triglycerides could add $11 per share to the company’s stock price while generating about $850M in peak sales, after Isis reported the Phase 2 results for the drug. The firm believes that those figures could rise and it keeps an Outperform rating on the stock.
Allergan (NYSE:AGN): Bernstein keeps its Outperform rating on Allegran, although it lowers its price target on the shares to $105 from $120 as the firm believes that the FDA’s decision to loosen the criteria for approval of a generic version of Restasis will have a significant negative effect on the company’s results beginning at the end of 2015.
Fifth & Pacific (NYSE:FNP): Sterne Agee believes that Fifth & Pacific’s Kate Spade brand is one of the fastest growing concepts in retail today, and thinks that the stock’s risk/reward outlook is very favorable, and it reiterates a Buy rating on the shares.