Truist lowered the firm’s price target on Deere (DE) to $602 from $619 and keeps a Buy rating on the shares. The company’s Q3 earnings beat reflects better performance in Small Ag and Turf as production costs were favorable, despite tariff costs, and demand was better than the management expected, the analyst tells investors in a research note. Deere continues to make progress on channel inventory, with North American large tractors inventory down 45% y/y and down 25% for combines, the firm added.
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