RBC Capital, Freedom Broker Raise Deere Price Target After Strong Q2 Earnings

RBC Capital raised its price target on Deere & Company (NYSE:DE) to $752 from $736, maintaining an Outperform rating on the stock. The revision comes after the company reported fiscal second-quarter earnings that surpassed analyst estimates.

Rating Change

• Previous Price Target: $736
• New Price Target: $752
• Rating: Outperform

Freedom Broker also raised its price target, adding to the positive sentiment.

Analyst Rationale

RBC analysts noted that Deere's Q2 earnings beat expectations despite the absence of IEEPA tariff exemptions. Strong demand for agricultural and construction equipment supports the optimistic outlook.

Context

The upgrade follows a strong performance by Deere shares, which have risen 12% over the past month. Other analysts, including JPMorgan and Goldman Sachs, also have positive ratings on the stock, with price targets ranging from $740 to $770.

Conclusion

The price target hike reflects analyst confidence in Deere's ability to sustain growth, but investors should consider risks such as commodity price volatility and trade policy changes.