Deere has been on fire in 2026. Baird sees even more returns ahead

The FTC and five states settled with Deere & Co., requiring the company to provide repair tools and resources to owners and independent providers for 10 years. Deere must offer these resources on fair terms and comply with reporting requirements. The settlement follows a $99M class-action settlement earlier this year and reflects ongoing regulatory focus on right-to-repair initiatives.

PFE, MMED, and DE stocks hit 52-week highs. PFE rose 0.3% to $29.09 after FDA approvals and strong Q2 results. MMED surged 10% to $22.74 on strong revenue and a price target upgrade. DE gained 3% to $677.89 after launching an AI platform. All three stocks have gained 14-45% YTD.

Baird upgraded Deere (DE) to Outperform, raising its price target to $800 from $640, citing expected improvement in North American agricultural fundamentals in 2027. Higher crop prices could boost farmer margins and equipment demand, benefiting Deere. However, valuation concerns and potential delays in recovery remain.

Deere (DE) stock rose 3.9% after Baird upgraded it to Outperform. The shares closed at $655.19, near its 52-week high. The company's stock has gained 40.3% year-to-date, and a $1,000 investment five years ago would now be worth $1,733.

Baird upgraded Deere (DE) to Outperform with a $800 target and AGCO to Outperform with a $150 target, citing a 2027 North America row crop recovery. Both stocks rose 4%. DE is up 36% YTD with a 34x P/E, while AGCO is up 10% YTD with a 15x P/E. Baird's upgrades highlight DE's direct exposure and AGCO's operating leverage.

Deere & Company (DE) shares rose 3.1% following a bullish analyst upgrade and strong quarterly results. Baird upgraded DE to Outperform, raising its price target to $800 from $640. The company reported Q3 net income of $1.379 billion, exceeding expectations, and raised its fiscal 2026 net income guidance to $4.75B-$5.00B.