"Jefferies upgraded Deere & Company to Hold and set a $550 price target, signaling that the worst of the agricultural downturn may be behind Deere, even if a full recovery isn't yet priced in."
"CEO John May stated that '2026 represents the bottom of the current cycle and provides us with a strong foundation for accelerated growth going forward.'"
"Despite the large agriculture segment remaining a headwind, Deere raised its FY2026 net income guidance to $4.5 billion to $5 billion, up from the prior range."
Jefferies upgraded Deere & Company to Hold with a $550 price target, suggesting that the worst of the agricultural downturn may be over. The stock trades at $596, indicating the target is below the current price, which is unusual for an upgrade. CEO John May believes 2026 will mark the bottom of the cycle, supporting Jefferies' cautious stance. Despite challenges in the agriculture segment, Deere raised its FY2026 net income guidance to $4.5 billion to $5 billion, reflecting a more optimistic outlook.
Read at 24/7 Wall St.
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