Deere & Co (NYSE:DE) on Thursday reported better-than-expected second-quarter financial results and raised its full-year net income outlook.
Earnings of $5.10 per share beat the $4.70 estimate. Net sales and revenue rose 5% to $12.608 billion, topping the $10.730 billion estimate.
Deere raised its fiscal 2026 net income outlook to between $4.75 billion and $5 billion. It expects equipment operations net operating cash flow of $5 billion to $5.5 billion. The company projects capital expenditures of about $1.3 billion and expects research and development expenses to increase slightly.
"As we look ahead, we continue to believe 2026 will mark the bottom of the current ag equipment cycle," Chairman and CEO John C. May said.
Deere shares gained 0.5% to trade at $623.93 on Friday.
These analysts made changes to their price targets on Deere following earnings announcement.
- Baird analyst Mircea Dobre maintained the stock with a Neutral and raised the price target from $525 to $640.
- Oppenheimer analyst Noah Kaye maintained the stock with an Outperform rating and raised the price target from $680 to $685.
Considering buying DE stock? Here’s what analysts think:
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