Deere price target lowered to $385 from $425 at JPMorgan

JPMorgan lowered the firm’s price target on Deere to $385 from $425 and keeps a Neutral rating on the shares. The company cut its full year outlook in back-to-back quarters as the agriculture equipment markets remain on a downward trajectory, and the outlook for retail sales in 2025 is uncertain with a bias to the downside, the analyst tells investors in a research note. The firm says Deere is being proactive and underproducing versus retail demand, given the rising inventory of late models in the used market and deteriorating farm economics.