Deere & Company (DE) sees roadbuilding and processing equipment as notable market share opportunities, complementing its 2017 acquisition of Wirtgen, which added roadbuilding and mineral processing offerings to its legacy earthmoving lineup, RBC Capital Markets said in a note.

Deere's increased use of automation across the Wirtgen family of companies is meant to address roadbuilding customers' challenges, namely limited availability of skilled labor, increased input costs, safety concerns, and increasing documentation requirements, according to the Sunday note.

RBC further said that the opportunity ahead with mineral processing is significant, with the space highly fragmented globally and no dominant player.

RBC maintained its outperform rating on Deere with a $752 price target.

Price: 534.59, Change: -7.59, Percent Change: -1.40