Deere price target raised to $477 from $448 at Oppenheimer

Oppenheimer analyst Kristen Owen raised the firm’s price target on Deere (DE) to $477 from $448 and keeps an Outperform rating on the shares. Deere is entering FY25 from a position of relative strength after executing against its targeted underproduction in Q4, the analyst tells investors in a research note. While the forecast isn’t rosy, the guidance embeds an outlook for production cadence converging with demand, and the guidance is conservative enough to be perceived as the “last large cut,” supporting the cyclical re-basing in valuation, Oppenheimer says.