Investors
who bought into the "it's different this time" stories on
major equipment and component companies such as Caterpillar
(NYSE:CAT),
Deere
(NYSE:DE),
Cummins
(NYSE:CMI)
or Joy
Global
(NYSE:JOY)
got a hard lesson in 2012, as weakness in Europe, China and South
America ultimately hit sales, profits and valuations. With the global
Ag markets looking stronger relative to mining and construction,
however, it's worth asking if Deere could be a solid stock to own on
a macro rebound in 2013 and a lengthening of the Ag cycle.
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