Deere (DE) PT Raised to $531 at Oppenheimer

Oppenheimer analyst Noah Kaye raised the price target on Deere (NYSE: DE) to $531.00 (from $512.00) while maintaining a Outperform rating.

The analyst commented: "For bears, DE's FY26 offered plenty to pick apart, including elevated decrementals on weaker NA large ag markets, softer-than-expected price, and a Brazil outlook perceived as optimistic. For bulls, the tone of the call implied more upside scenarios than down, offering conviction in the bottoming cycle. Price/cost positive for FY26 a feat in light of $1.2B in tariff headwinds, and the acceleration of technology adoption establishes a strong foundation into the next cycle. We believe investors are likely to digest the print and hone their models ahead of the Dec. 8 investor day, suggesting more of a grind for shares into calendar year-end, with minimal damage to the LT bullish outlook. Updating our estimates, we revise our PT to $531 from $512."

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