Deere Stock Soars on Farming Recovery Prediction

The agricultural equipment maker Deere & Company saw its shares rise on Monday after analyst Mircea Dobre of Baird predicted that rising corn and soy prices will drive an upturn in farming profits in North America.

Dobre estimates that Deere's earnings per share will grow to $25 in 2027 and over $30 in 2028, with potential gains of more than 22% for investors who buy shares now at the current price target of $800.

The analyst placed an outperform rating on Deere's stock and lifted his share price forecast from $640 to $800, which represents a significant increase over the company's current earnings per share of $18.50 in fiscal year 2025.