Raymond James analyst Tim Thein raised the firm’s price target on Deere (DE) to $560 from $530 and keeps an Outperform rating on the shares. The firm’s model has been updated to reflect better-than-expected Q2 results and layering-in of $400M of tariff-related costs, the analyst tells investors in a research note. Raymond James is encouraged by the tightening of global grain supply/demand balances and firming in commodity prices as an obvious important “ingredient” to improved farmer sentiment and profitability.
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