Deere price target raised to $475 from $440 at Jefferies

Jefferies analyst Stephen Volkmann raised the firm’s price target on Deere (DE) to $475 from $440 and keeps a Hold rating on the shares after management outlined a “sharpened 2030 framework” with “no major surprises” at the company’s analyst day meeting. Deere targets 10% sales CAGR and 20% cycle average margins in 2030, notes the analyst, who sees shares already pricing in about $50 per share in EPS in 2030 at a price of $466. This suggests upside from here requires a cycle turn, the analyst added.