Key insights
- Freedom Broker raised its price target for Deere (DE) to $590, citing a positive outlook for the agricultural equipment cycle's low point in 2026. Despite mixed analyst sentiment and some price target reductions due to sector weakness, Deere's diversified portfolio and technology monetization are seen as drivers of improved structural profitability. This suggests potential resilience and a possible upward trend for the company as the cycle potentially bottoms out.
Investing.com - Freedom Broker raised its price target on Deere & Co. shares to $590 from $570 while maintaining a Hold rating on the stock.
The firm cited the company’s neutral second-quarter fiscal 2026 earnings in its assessment. Deere trades on the New York Stock Exchange under the ticker NYSE:DE.
Freedom Broker said 2026 represents the low point of the large agricultural equipment cycle. The analyst noted Deere’s diversified portfolio is generating higher structural profitability at the cycle’s low point compared to previous cycles.
The firm attributed the improved profitability to technology monetization and increased demand for construction equipment. Freedom Broker said its core investment thesis on the company remains unchanged.
The brokerage reiterated its Hold recommendation on Deere shares alongside the price target increase to $590.
In other recent news, Deere & Company reported its second-quarter fiscal 2026 earnings, which exceeded analysts’ expectations. The company achieved earnings per share of $6.55, surpassing the forecasted $5.70, and revenue reached $13.37 billion, higher than the anticipated $11.56 billion. These results were bolstered by tariff refunds. Despite the strong performance, analysts have adjusted their outlooks on the company. DA Davidson lowered its price target for Deere from $775 to $685, while maintaining a Buy rating, citing the current fiscal year’s outlook as a trough year. Meanwhile, BofA Securities reduced its price target from $672 to $607.50, maintaining a Neutral rating due to concerns over weakness in the large agricultural sector. Both firms acknowledge the positive impact of tariff refund recoveries on Deere’s earnings. These developments reflect the mixed sentiment among investors and analysts regarding Deere’s future performance.
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