Deere (DE) PT Lowered to $680 at Oppenheimer
Oppenheimer analyst Noah Kaye lowered the price target on Deere (NYSE: DE) to $680.00 (from $715.00) while maintaining a Outperform rating.
The analyst commented: "We hosted DE for an extended investor call Tuesday, unpacking F2Q results and moving pieces influencing 2H26. Excluding tariff recovery, F2Q performed modestly ahead of DE's expectations, with the 2H implying improving price/cost, easier comps, and momentum in C+F offsetting a now weaker outlook in Brazil Ag. While confident in its FY26 trough expectations, Brazil weakness splashed cold water on the cycle recovery momentum, with the stock off ~6% since reporting (vs. S&P500 +1%). As we move into a seasonal weather/commodity driven market for Ag stocks, we believe DE shares are likely to remain somewhat range-bound over the coming weeks, pending EOP updates late-summer. We remain constructive on a modest growth backdrop in 2027, while trimming our estimates and PT to $680 from $715."