
Deere Stock Snaps 2 Consecutive Weekly Declines After Analyst Sets Street-High Price Target, Retail's Bullish
Deere & Co (DE) stock snapped two consecutive weeks of declines, propelled by an upgrade by Melius Research.
According to The Fly, the stock rose 2.7% over the past week after the brokerage raised it to 'Buy' from 'Hold' and set a street-high price target of $750.
Deere stock has a consensus price target of $547.33, according to FinChat data.
Melius analysts said that investors will start pricing in Deere's recurring revenue value over the next couple of years as the company's capabilities and probabilities become visible.
The brokerage also said the company's technology opportunity is differentiated and has the "best competitive moat."
The top U.S. agricultural equipment maker is ramping up investments in autonomous vehicles and machine learning amid a labor shortage in North American farms.
Last month, it acquired Sentera, a remote imagery provider, which can connect to drones amid a rise in their usage on U.S. farms.
In May, the company revised the lower end of its 2025 forecast, projecting net income between $4.7 billion and $5.5 billion, compared with its prior earnings forecast of between $5 billion and $5.5 billion.
In May, Deere projected a pre-tax tariff impact in fiscal year 2025 of just over $500 million. The company also pledged to invest over $20 billion in the United States to bolster domestic manufacturing.
On Friday, retail sentiment on Stocktwits was in the 'bullish' (62/100) territory, while retail chatter was 'low.'
“Bears always lose here,” one retail trader said.
Deere stock has risen 22% this year.
For updates and corrections, email newsroom[at]stocktwits[dot]com.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- SBI VEN CAPITAL INVESTS €1 MILLION IN COLOSSUS DIGITAL's BRIDGE ROUND
- NDAE Exchange Unveils NDAE Academy 2.0 For Crypto Learning Advancement
- From Cosmos And NEAR To Bitcoin Mining: Legal Heavyweight Nathan Cho Joins Terahash
- Tbtc Launches On Starknet: Expanding Bitcoin's Role In Multi-Chain Defi
- Freedom Holding Corp. Reports Fiscal Year 2025 Financial Results
- Founders Of Layerzero, SEI, Selini Capital, And Plume Back Hyper-Personalized AI Crypto Discovery Engine
Comments
No comment