Deere (DE) PT Raised to $505 at DA Davidson

DA Davidson analyst Michael Shlisky raised the price target on Deere (NYSE: DE) to $505.00 (from $465.00) while maintaining a Buy rating.

The analyst commented: "We are maintaining our BUY rating, with a new $505 price target (from $465) following F4Q:24 earnings. DE beat expectations, and although FY:25 guidance was short, we believe two items contributed to the 8% upside to the stock yesterday. First, unlike peers, DE appears to have right-sized its dealer inventories in most of the world at this point. This should make for a healthier market in 2025-2026. Secondly, DE highlighted that market conditions are at a trough in FY:25, and the company's 20%+ EBITDA margin is exceptional at this point in the cycle. DE remains a high-quality stock to own at all cycle points, in our view."

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