DA Davidson lowered the firm’s price target on Deere (DE) to $580 from $595 and keeps a Neutral rating on the shares after its Q3 results. The significant downturn in global Ag Equipment continues, though Deere noted enough bright spots to suggest that the company is at a “clear trough”, the analyst tells investors in a research note. The exception appears to be the U.S., where Deere generates the majority of its revenues and EBITDA, though the management is also cautiously optimistic given the state of inventories, the firm added, noting that earnings appear poised to inflect in FY26.
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