Deere & Company Stock Rises After Baird Upgrade to Outperform
Deere & Company stock is rising after Baird upgraded it to Outperform from Neutral and raised its price target to $800.
The upgrade was based on early order program data showing planters and sprayers trending up mid-single-digit percentages compared to last year's completed program, indicating a potential recovery in the production and precision agriculture segment.
Rising corn and soybean futures have also bolstered the case for improved farmer margins and future equipment demand, according to Baird analyst Mircea Dobre, who described Deere as the stock that gets bought first when investors anticipate a fundamental turn in the agricultural cycle.
The upgrade was supported by longer-term earnings projections approaching $25 per share in 2027 and the mid-$30s in 2028, reflecting confidence that fiscal 2026 represents a cyclical trough, consistent with Deere's own management commentary from recent quarters.