*Analysts worry about Europe under-pricing. Feb 13- Deere& Co, the world's largest farm equipment maker, forecast a modest increase in sales for the year, disappointing investors who thought the prospect of a record U.S. corn crop would have meant better results. Deere cut its forecast for corn prices in 2013 to $5.25 per bushel from its earlier projection of $6.00.
*First-quarter EPS $1.65 vs $1.40 est. Moline, Illinois- based Deere raised its forecast for net income in the year ending October 2013 to $3.3 billion from $3.2 billion, catching up with Wall Street's expectations. The company's sales of agricultural equipment in the United States and Canada would grow by no more than 5 percent this year, it said in a statement.