Citi raised the firm’s price target on Deere (DE) to $550 from $450 and keeps a Neutral rating on the shares. The firm updated the company’s model post the fiscal Q2 beat. The firm cites its slightly higher estimates and a higher multiple, reflecting increased confidence that 2025 will likely be the trough for global agriculture demand, for the target bump. However, Citi is less constructive on Deere’s medium-term earnings trajectory than it thinks a lot of investors are.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DE:
- Deere’s Market Position and Tariff Challenges Lead to Hold Rating Amidst Mixed Outlook
- Analysts Cut Guidance Across Sectors Amid Tariff Shock – But Nvidia (NVDA) May Be the Exception
- Deere price target raised to $560 from $530 at Raymond James
- How the S&P 500 Can Be Your New Best Friend
- Deere price target raised to $514 from $501 at Baird