JPMorgan analyst Tami Zakaria lowered the firm’s price target on Deere (DE) to $495 from $500 and keeps a Neutral rating on the shares. The firm reduced agriculture machinery targets to reflect the latest the updated Section 232 tariffs, which assign a 50% tariff on the value of steel and aluminum content of imported products.
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- Deere Announces Leadership Changes for Strategic Growth
- Deere & Company Earnings Call Highlights Strategic Resilience
- Jefferies sees other heavy manufacturers facing headwinds like Caterpillar
- Caterpillar estimates lowered at Morgan Stanley on additional tariff headwinds
- Deere price target lowered to $491 from $493 at Evercore ISI