Deere stock is down on Wednesday after a downgrade from Bank of America Merrill Lynch analyst Ross Gilardi.

The downgrade has the Bank of America Merrill Lynch analyst dropping Deere (NYSE:DE) stock from a rating of “Buy” to “Neutral.” To go along with this, Gilardi dropped his price target for the stock to $170.

The price target drop to $170 is still above Deere stock’s trading price when markets closed on Tuesday. The stock was trading at $165.18 at that time. However, any decrease to a price target is bad news for a stock.

It is also worth noting that the note from the Bank of America Merrill Lynch analyst also includes a lower earnings per share estimate for 2019. This has him expecting earnings per share of $11.25 for the year. Wall Street is looking for DE to report earnings per share of $12.84 in 2019.

“If the tariffs aren’t lifted, and China continues to shun U.S. soybean imports, U.S. farmers will face rising uncertainty into spring planting as U.S. soybean inventories are already soaring,” Gilardi says in a note obtained by CNBC. “In our view, this is a real risk to farm equipment demand in the second half of 2019.”

While Deere stock has been performing well lately, several analysts are expecting it to drop down. This is based on trends between DE stock and Caterpillar (NYSE:CAT) stock over the last decade. Typically, when one jumps head of the other, it comes back down after a few months.

DE stock was down 1% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.