Deere Stock Rises on Analyst Predictions

Deere & Co.'s (DE) stock rose overnight after analysts raised their price targets following better-than-expected Q3 results and signs of stronger demand.

The firm's improving equipment orders, hopes for an agricultural recovery, and rising corn prices have led to increased optimism. Oppenheimer, Bank of America, and Citi see more upside if the farm equipment market starts to recover.

Oppenheimer raised its price target on Deere to $685 from $680 and maintained an 'Outperform' rating, implying nearly a 58% upside to the stock's last closing price. The firm pointed to stronger-than-anticipated early bookings for Deere's 2027 seasonal equipment.