Tiger Brokers

BUZZ-Citigroup cuts Deere & Co PT citing weak agri-equipment demand

Reuters
Mar 09
BUZZ-Citigroup cuts Deere & Co PT citing weak agri-equipment demand

** Citigroup cuts PT on tractor maker Deere & Co DE.N to $625 from $675; reiterates "neutral" rating

** New PT still represents a 6% upside to stock's last close

** DE down 1.3% in premarket trading

** Brokerage says 2026 is likely to represent trough for large agricultural equipment demand

** Adds muted grain prices, pressured farm incomes and elevated machinery prices suggest North American and global demand for new large agricultural equipment may stay subdued for several years

** Median PT of 25 brokerages covering the stock is $673.5 - data compiled by LSEG

** As of last close, DE up 26.7% YTD

(Reporting by Megavarshini G. Somasundaram in Bengaluru)

((Megavarshini.SomasundaramGnanasundari@thomsonreuters.com))

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