Deere price target raised to $450 from $401 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Deere (DE) to $450 from $401 and keeps an Overweight rating on the shares. Deere’s FY25 implied EPS guidance of $18-$20, while missing consensus, aligns with buyside expectations and factors in global Ag market challenges, the analyst tells investors. The Q4 results and guidance still support a view that normalized EPS may be in the mid-20s, “bolstering bulls’ conviction,” the analyst added.