Deere price target raised to $500 from $470 at JPMorgan

JPMorgan raised the firm’s price target on Deere (DE) to $500 from $470 and keeps a Neutral rating on the shares ahead of the fiscal Q1 report on February 13. The setup suggests the shorts will continue covering, the analyst tells investors in a research note. Deere saying 2025 is the trough of this cycle have driven strength in agriculture stocks in recent weeks with shorts reducing exposure after being negative on the space for much of last year, the analyst tells investors in a research note. JPMorgan does not see this trend reversing near term, “despite very weak earnings and margins” expected in the first half of 2025.