Deere price target raised to $450 from $420 at JPMorgan

TipRanks

Sat, Nov 23, 2024, 4:35 AM 1 min read

JPMorgan raised the firm’s price target on Deere (DE) to $450 from $420 and keeps a Neutral rating on the shares following the fiscal Q4 report. The shares will likely command a premium over the core market valuation as “trough” math crystallizes, the analyst tells investors in a research note. However, the firm says Deere’s heavily second half of the year weighted fiscal 2025 guidance “probably has some downside risk rather than being beatable.”