Deere’s stock was left out of the broad market rally on Friday after a pair of brokerages downgraded the farm-equipment maker amid worries about valuation. 

According to Dow Jones Newswires, JPMorgan Chase and Wells Fargo downgraded Deere to “market performer” from “outperform” over worries about its price tag.

Pointing to a 29% surge in Deere’s stock year-to-date, JPMorgan recommended “taking profits,” especially because it expects crop prices to “moderate” from here, weighing on farm-related stocks.

JPMorgan also said it expects Deere to issue a conservative guidance for fiscal 20111 “on the back of higher pension and R&D costs and dealer allocation plans” for North American combines, Dow Jones reported.

After dropping more than 1% in the premarkets on the news, Deere’s stock was down 0.86% to $69.15 Friday morning. The stock is still up almost 3% over the past month and 68.5% from a year ago.