Street View: Deere finds room to grow in tough soil
DE•Analysts say Deere has support from margins, orders and construction strength
** J.P. Morgan ("neutral," PT: $585) expects healthy incremental margins across DE's businesses, excluding the impact of tariff refund comparisons
** Daiwa Capital Markets ("outperform," PT: $705) says declining used equipment inventory levels and stronger end-of-period order intake support its above-consensus forecasts, and weather-related challenges and shipping disruptions could bolster crop prices in 2027, providing further upside
** Jefferies ("hold," PT: $550) says the agricultural backdrop remains challenging but stable in North America, while prospects in South America and Europe have become less favorable; continued strength in DE's construction-related businesses and tariff benefits helped support results
** Morningstar (Fair Value: $610) says DE has weathered the downturn by aligning production with demand, allowing inventories to normalize as farmers increasingly look to upgrade equipment and boost efficiency
Deere raises full-year forecast and posts first quarterly profit rise in three years
** Deere DE.N, the world's largest farm equipment manufacturer, raised its full-year net income forecast on Thursday and posted its first rise in quarterly profit in three years on the back of an AI-driven construction boom and tariff refunds
** Twenty-five analysts rate "buy" on average; median PT is $640 - data compiled by LSEG
