Deere & Company (NYSE:DE) seems to have attracted renewed attention from ***** ysts after an impressive rise in its stock so far this year. As of August 31, the stock gained more than 35%. On August 31, Baird upgraded its rating on Deere & Company (NYSE:DE) from Neutral to Outperform and lifted its price target from $640 to $800.
Bull Case
Baird sees a favorable setup for Deere & Company (NYSE:DE) because of its high exposure to North American row-crop equipment demand. The research firm expects the company to be among the first agricultural equipment companies to benefit when investors see a recovery in the agricultural sector.
The firm also noted that commentary on early order programs indicated that orders for planters and sprayers were up by a mid-single-digit percentage compared with last year's completed program. Baird believes that this suggests early order programs could end up higher by completion and this also provides early signs of a possible recovery in production and precision agriculture.
According to Baird, the current early order programs could be significantly underestimating the actual demand potential for production and precision agriculture in 2027 if its ***** sment of corn and soybean fundamentals proves correct. The firm noted that the potential recovery should continue into 2028.
#early
Bull Case
Baird sees a favorable setup for Deere & Company (NYSE:DE) because of its high exposure to North American row-crop equipment demand. The research firm expects the company to be among the first agricultural equipment companies to benefit when investors see a recovery in the agricultural sector.
The firm also noted that commentary on early order programs indicated that orders for planters and sprayers were up by a mid-single-digit percentage compared with last year's completed program. Baird believes that this suggests early order programs could end up higher by completion and this also provides early signs of a possible recovery in production and precision agriculture.
According to Baird, the current early order programs could be significantly underestimating the actual demand potential for production and precision agriculture in 2027 if its ***** sment of corn and soybean fundamentals proves correct. The firm noted that the potential recovery should continue into 2028.
#early
9 days ago
