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Deere (DE) Stock Falling, Downgraded at Piper Jaffray

NEW YORK (TheStreet) -- Shares of Deere & Co. (DE) are down 3.06% to $77.66 on Monday as the company was downgraded to "underweight" from "neutral" at Piper Jaffray this morning.

The firm cut its price target on the Moline, IL-based agriculture and construction manufacturer to $67 from $76, TheFly reports.

Analysts said consumer demand for machinery will continue to fall as corn and grain prices drop due to "extremely favorable" farming conditions.

Demand for farming equipment overseas is mixed, as new government policies in Brazil could issue positive results, while the outcome of Brexit on...