Deere (DE) Stock Analyst Consensus Target, Ratings, and Recommendations

In-depth Analysis of Deere's Stock Performance

Analyst Ratings and Price Target Summary

Deere & Company (NYSE:DE) has a consensus price target of $427.29, based on ratings from 32 analysts. The high target is $551, set by Credit Suisse on August 21, 2023.

The average 12-month price target from 21 analysts is $424.03. The low target is $360, indicating a potential downside risk of 15.5% from the current market price of $425.42.

Recent Analyst Actions

• Bernstein raised the price target from $364 to $398, maintaining a Market Perform rating.
• JP Morgan boosted the price target from $415 to $440, maintaining a Neutral rating.
• BMO Capital maintained its Market Perform rating and $400.00 price target.
• Citi maintained its Neutral rating and $370.00 price target.
• UBS analyst Steven Fisher maintained a Neutral rating and boosted the price target from $383 to $408.

Earnings Beat and Analyst Commentary

Deere exceeded analysts' expectations for third-quarter profit, reporting stronger pricing and cost control measures.

Chad Dillard from Bernstein maintained a Market Perform rating, stating that Deere's "strong fundamentals" and "long-term growth prospects" remain intact.

Tami Zakaria from JP Morgan maintained a Neutral rating, acknowledging Deere's "solid execution" but remaining cautious about the potential impact of economic headwinds.

Consensus Targets and Ratings

• 32 analysts have rated Deere with an average price target of $427.29.
• 18 analysts have 12-month price forecasts, with an average target of $420.
• 20 analysts have short-term price targets, with an average target of $423.25.
• Deere has a consensus rating of "Market Perform," indicating that analysts generally recommend holding the stock.

Conclusion

Analysts remain cautiously optimistic about Deere's long-term prospects. While the consensus rating is "Market Perform," recent price target increases suggest potential upside for investors.

However, it's important to note that analyst ratings and price targets are subject to change and should not be the sole basis for investment decisions.