Baird upgraded Deere & Co. (DE) to Outperform from Neutral and significantly raised its price target to $800, citing a clear path for growth in North American agriculture. This upgrade is based on conservative early order program guidance and an expected rebound in the production and precision agriculture segment, projecting strong earnings growth through 2028.
Baird's upgrade of Deere (DE) to Outperform with a substantial price target increase to $800 is a significant positive catalyst. The analyst believes Deere has the clearest growth path among equipment makers, driven by anticipated improvements in North American agricultural conditions and conservative early order program guidance. This suggests a strong rebound in Deere's production and precision agriculture segment, leading to projected earnings growth to $25/share by 2027 and mid-$30s by 2028. For traders, this implies continued upward momentum for DE stock, supported by both fundamental analysis and a bullish technical chart setup, with potential for further gains as agricultural conditions improve.