Why Deere Stock Hit an All

Deere & Co. (DE) stock reached an all-time high above $700 per share, up 10% since last Friday. The company raised its full-year net income guidance by $250 million after a strong fiscal third-quarter report. CEO John May expects 2026 to mark the bottom of the current ag equipment cycle. Analyst Mircea Dobre anticipates a 15% upside to $800 per share due to an impending recovery cycle in the agricultural equipment sector.

ECHO launched light towers compatible with its generators, expanding its jobsite power market. Volvo CE began producing excavators and wheel loaders in the US, investing $1.4B since 2007. Deere's $99M right-to-repair settlement for agricultural equipment is underway, with payments based on dealer labor hours.

On Tuesday, U.S. indices declined, with the S&P 500 and Nasdaq down 0.71% and 1.03% respectively. Deere (DE) hit a new 52-week high of $677.89, up 43% in a year, with Baird upgrading it to Outperform and raising the target to $800. The Chef's Warehouse (CHEF) also hit a new high, up 79% in a year, but faces valuation concerns. Builders Firstsource (BLDR) and Dave & Buster's (PLAY) hit new lows, down 54% and 65% respectively in a year.

UBS maintains a 'Buy' rating on Deere (DE) despite a cyclical slowdown in farm equipment, citing signs of stabilization. DE reported Q3 2026 sales of $12.6B, up 5%, and net income of $1.38B. UBS lowered its price target to $728, expecting 2027 to be a transition year with growth in 2028. DE's long-term growth may be driven by advanced technologies. Bears cite risks from farm economics and tariffs.

Baird upgraded Deere & Co (DE) stock. The consensus rating is 'Strong Buy' with a mean price target of $665, suggesting further upside potential. Other firms also remain constructive on DE shares.

Baird upgraded Deere & Company (DE) to Outperform, raising its price target to $800 from $640. The firm expects DE to benefit from a recovery in North American agricultural demand, with potential earnings of $25 per share in 2027 and mid-$30s in 2028. However, DE faces challenges like declining farm income, tariffs, and cautious capital spending.