Citigroup Cuts Deere & Company (NYSE:DE) Price Target to $595.00

Key Points

• Citigroup lowered its price target on Deere & Company to $595 from $625, while keeping a neutral rating on the stock. The new target still implies about 12.2% upside from the current share price.
• Deere recently beat fiscal Q2 earnings and revenue estimates, with EPS of $6.55 versus $5.70 expected and revenue of $11.78 billion versus $11.55 billion expected. Management also kept full-year net income guidance at $4.5 billion to $5.0 billion.
• The company’s outlook remains mixed as production & precision ag sales fell sharply, highlighting weakness in its core farm equipment business. Some of that pressure is being offset by stronger construction & forestry demand, which Deere now expects to grow about 20% in FY2026.

Deere & Company (NYSE:DE - Get Free Report) had its price target decreased by stock analysts at Citigroup from $625.00 to $595.00 in a report issued on Friday,MarketScreener reports. The firm currently has a "neutral" rating on the industrial products company's stock. Citigroup's price target indicates a potential upside of 12.21% from the stock's current price.

Other research analysts have also recently issued reports about the company. UBS Group upped their price objective on Deere & Company from $535.00 to $775.00 and gave the stock a "buy" rating in a research report on Friday, February 20th. Wells Fargo & Company boosted their target price on Deere & Company from $543.00 to $750.00 and gave the stock an "overweight" rating in a research note on Friday, February 20th. Morgan Stanley upped their price target on Deere & Company from $560.00 to $730.00 and gave the company an "overweight" rating in a report on Monday, February 23rd. Jefferies Financial Group upgraded shares of Deere & Company from an "underperform" rating to a "hold" rating and set a $550.00 price target on the stock in a research note on Wednesday, April 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Deere & Company from $525.00 to $550.00 and gave the stock a "neutral" rating in a report on Friday, April 10th. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Deere & Company currently has an average rating of "Moderate Buy" and a consensus target price of $643.98.

Deere & Company Price Performance

Deere & Company stock opened at $530.26 on Friday. The stock has a market cap of $143.23 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 1.96 and a beta of 0.96. The company has a fifty day simple moving average of $577.80 and a 200-day simple moving average of $539.87. Deere & Company has a 12-month low of $433.00 and a 12-month high of $674.19. The company has a current ratio of 2.21, a quick ratio of 1.96 and a debt-to-equity ratio of 1.59.

Deere & Company (NYSE:DE - Get Free Report) last posted its earnings results on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, beating the consensus estimate of $5.70 by $0.85. Deere & Company had a return on equity of 18.93% and a net margin of 10.29%.The firm had revenue of $11.78 billion for the quarter, compared to analyst estimates of $11.55 billion. During the same quarter in the prior year, the company posted $6.64 earnings per share. Deere & Company's revenue for the quarter was up 5.4% compared to the same quarter last year. Equities analysts expect that Deere & Company will post 18.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Deere & Company in the fourth quarter valued at approximately $1,715,633,000. Capital World Investors raised its position in Deere & Company by 53.9% in the 4th quarter. Capital World Investors now owns 9,592,004 shares of the industrial products company's stock valued at $4,465,906,000 after purchasing an additional 3,358,264 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Deere & Company by 1,725.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,003,715 shares of the industrial products company's stock valued at $932,870,000 after purchasing an additional 1,893,972 shares during the last quarter. M&T Bank Corp boosted its stake in Deere & Company by 1,199.8% during the 4th quarter. M&T Bank Corp now owns 1,864,701 shares of the industrial products company's stock worth $868,149,000 after purchasing an additional 1,721,239 shares during the period. Finally, Diamant Asset Management Inc. boosted its stake in Deere & Company by 56,230.0% during the 1st quarter. Diamant Asset Management Inc. now owns 610,617 shares of the industrial products company's stock worth $343,961,000 after purchasing an additional 609,533 shares during the period. Institutional investors and hedge funds own 68.58% of the company's stock.

Key Stories Impacting Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: Deere beat Q2 profit and sales estimates, helped by strong performance in construction & forestry and small ag/turf, which showed the business can still grow even as farm demand weakens.
• Positive Sentiment: The company lifted its construction & forestry sales outlook to about 20% growth for FY2026, signaling continued strength in a segment that is partially offsetting agriculture weakness.
• Neutral Sentiment: Deere maintained full-year net income guidance of $4.5 billion to $5.0 billion, which was reassuring but not enough to change the market’s view that the recovery in large agriculture may be slow.
• Neutral Sentiment: Management’s commentary pointed to tariff-related headwinds and a one-time tariff refund benefit, which supported the quarter but does not represent a recurring earnings boost.
• Negative Sentiment: Production & Precision Ag sales fell sharply year over year, underscoring the slump in Deere’s most important cyclical farm machinery business and raising concerns about farmer budgets and replacement demand.
• Negative Sentiment: A new class-action lawsuit over right-to-repair practices could add legal and reputational risk around Deere’s aftermarket repair model and pricing power.

About Deere & Company

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company's principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.

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