Why Baird Just Upgraded Deere (DE) Stock to Buy With an $800 Target
TLDR
- Baird analyst Mig Dobre upgraded Deere (DE), AGCO, CNH Industrial, and Titan Machinery to Buy from Hold.
- Baird raised its Deere price target to $800 from $640, one of only two targets above $800 per FactSet.
- The upgrades are based on improving farm fundamentals pointing to a North America large ag equipment recovery in 2027.
- Mid-2027 corn futures are now above farmer breakevens, with soybean prices also improving.
- Baird sees Deereโs earnings power reaching $25 per share in 2027 and mid-$30s in 2028.
Baird analyst Mig Dobre upgraded Deere (DE) to Buy from Hold on Monday, raising his price target to $800 from $640. That makes it only the second price target above $800 for the stock, according to FactSet.
Deere stock was trading up 0.9% at $635.93 in premarket trading following the news.
Along with Deere, Dobre also upgraded AGCO, CNH Industrial, and Titan Machinery to Buy from Hold. His AGCO target moved to $150 from $120, CNH to $15 from $11, and Titan to $29 from $20.
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