Deere (DE) has both scale and data advantages in developing autonomous equipment, positioning the company to deliver stronger profitability over the cycle, Oppenheimer said Wednesday in a report following the farm-machinery maker's investor presentation.

The company's target of 10% annual revenue growth through 2030, driven by traditional machinery sales and recurring revenue from services and parts, implies mid-cycle earnings of $40 to $45 a share, Oppenheimer said.

Key growth drivers include expanding into new geographical areas, broadening technology offerings, and creating more value for farmers, the report said.

Deere pointed to momentum into fiscal 2026, with balanced inventories, steady demand, and easing price pressure. Oppenheimer said. Growth expectations are projected to exceed the industry through 2030, supported by new products and greater adoption of technology, the report said.

Oppenheimer maintained its outperform rating on Deere stock with a price target of $531.

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