farm equipment
(Reuters) — Deere & Co. raised its full-year sales and profit forecast for the second time, as demand improves for its equipment, particularly in South America, sending its shares to a record high.
It expects fiscal 2017 industry sales of tractors and combines in South America to be at the high-end of its earlier forecast of about 15-20 percent rise, buoyed by improving economic conditions in Brazil and Argentina.
It raised its equipment sales growth forecast to nine percent, from four percent and raised its net income forecast to US$2 billion from $1.5 billion.
