$CNH

Deere & Company (DE) and peers CNH Industrial (CNHI) and AGCO Corporation (AGCO) saw stock declines of 5.0%, 5.7%, and 5.9% respectively after the FTC and USDA launched an inquiry into agricultural equipment industry practices, citing farmer complaints about market barriers and pricing.

Bourgault Industries, a Linamar company, has formed a strategic alliance with CNH. The partnership will see Bourgault manufacture and supply co-branded Case IH and New Holland seeding systems, distributed through CNH's global dealer network. The agreement aims to expand access to advanced seeding technology for farmers, combining Bourgault's expertise with CNH's distribution capabilities. The co-branded equipment will be available starting in February 2027.

CNH Industrial has hired Kris Dahl, a Caterpillar executive, to replace Terry Dolan as VP of North America for Case Construction Equipment. Dahl, with 25 years of experience, will transition with Dolan, who retires at year-end. Dolan's tenure saw innovations like the Minotaur DL550 and electric equipment. CNH aims to continue its growth strategy.

CNH Industrial N.V. (CNH) announced its subsidiary, CNH Industrial Capital Canada Ltd., priced Cdn$200M 4.00% notes due 2028 and Cdn$350M 4.40% notes due 2030. Proceeds will be used for working capital and general corporate purposes. The notes are senior unsecured obligations and are guaranteed by CNH Industrial's subsidiaries. The offering is expected to close on September 25, 2026, subject to customary conditions.

The global agricultural machinery market is near a cyclical bottom, with recovery expected to vary by region and equipment size. John Deere reports a 6% decline in large equipment sales but a 12% increase in small machinery. AGCO and CNH expect an L-shaped recovery, with dealer inventory normalization preceding demand recovery. North America and Brazil face challenges, while India and Asia show structural growth. Key companies mentioned include AGCO, CNH, John Deere, and Kubota.

GM, Stellantis, and CNH met with 61 Korean firms to explore supply chain partnerships, aiming to reduce reliance on Chinese suppliers. The event, organized by the Korea Trade-Investment Promotion Agency, included over 200 consultations and focused on auto parts, AI, and automation. Stellantis seeks Korean battery materials and equipment companies. KOTRA plans follow-up support to facilitate exports and supply contracts.

CNH Industrial stock rose 23% last week after Baird upgraded it to Outperform, citing margin improvements and fading tariffs. The company also announced a co-branding deal with Bourgault Industries. The stock's current price of $14.40 exceeds the Street's $14 mean target, with analysts projecting a 77% total return by 2030.

CNH Industrial N.V. (CNH) shares rose 3.72% after the company guided its 2026 outlook to the high end of its prior range. The company reported Q3 revenue of $4.80B, gross profit of $1.41B, and net income of $138M. CNH's stock has gained about 40% in recent weeks, driven by strong demand in agricultural equipment.

Bernstein analysts highlight optimism in the agricultural equipment sector, driven by higher corn prices, lower crop yields, and increased demand. AGCO, CNH Industrial, and Deere & Company are positioned for growth, with AGCO targeting a 20% market share in North America, CNH focusing on operational improvements, and Deere advancing precision agriculture. Analysts have mixed views on AGCO's price targets but upgraded CNH and Deere.

Evercore ISI upgraded CNH Industrial's stock rating to Outperform from In Line and raised its price target to $18 from $12.50. The company's shares have seen a 5-day change of 13.70 USD, a 1st Jan change of +0.40%, and a 20.25% increase over the past year, with a 49.07% gain over a longer period.