Deere & Co. (NYSE:DE) shares are climbing Monday after Baird upgraded the stock to Outperform from Neutral and sharply raised its price target.
- Deere stock is charging ahead with explosive momentum. Why is DE stock up today?
Baird Upgrades Deere, Sees Cleanest Setup in North American Ag
Baird analyst Mircea Dobre upgraded Deere to Outperform from Neutral and raised his price target to $800 from $640, implying nearly 27% upside from the stock’s current price.
In Dobre’s view, no other equipment maker has a clearer path forward than Deere right now, given how much of its business rides on demand for row crop machinery across North America, a trait he said typically makes Deere the first stock investors reach for whenever they sense agricultural conditions are turning a corner. He acknowledged that dynamic already explains why the stock has performed well this year but said his research points to further gains building into 2027.
Central to that call is language buried in Deere’s early order programs for planters and sprayers, where the company is guiding to growth in the mid-single digits compared with last year’s finished program. Dobre reads that phrasing as deliberately conservative, suggesting the final numbers could land higher once the ordering window closes, and he sees it as an early crack of light pointing toward a rebound in Deere’s production and precision agriculture segment.
Assuming his broader thesis on corn and soybean market conditions holds up, he believes these early figures are actually lowballing how much real demand exists for that business heading into 2027 and 2028.
Dobre argued Deere stands out as the company best equipped to grow earnings from what he views as a bottomed-out North American large agriculture market, pointing to its outsized footprint in that space and management’s track record of execution. He now models earnings climbing toward $25 per share in 2027 and pushing into the mid-$30s per share range by 2028 as that regional recovery gathers pace.
Deere’s Chart Shows a Stock Firmly in an Uptrend
Deere’s technical picture backs up the bullish analyst tone. Shares are holding above every major trend line that matters, running 4.9% ahead of their 20-day average of $619.39, 6.2% above the 50-day mark of $611.91, 9.5% over the 100-day level of $593.04 and 15.2% clear of the 200-day average of $563.88. Chart watchers generally view that kind of layered alignment, where each shorter-term average sits above the next longer one, as a hallmark of a trend with real staying power.
Momentum readings support that read as well. The MACD line remains above its signal line with a positive histogram, an indication that selling pressure has been fading and that the stock’s latest move higher carries more conviction than its previous decline.
February stands out as a pivotal month on the chart, when a golden cross formed alongside a break above resistance, a combination that helps explain why subsequent pullbacks have tended to attract buyers rather than trigger deeper selling. More recently, a swing low in June and a swing high in August have set the boundaries traders are watching for signs of either a genuine breakout or a stalled rally.
Resistance sits at $660.50, just below the stock’s 52-week high near $674.19, a level where past rallies have lost momentum. Support comes in at $590, close to both the 100-day simple and exponential moving averages, an area where buyers have stepped in to defend the stock before.
DE Shares Are Rising
DE Price Action: Deere shares were up 3.13% at $650.07 at the time of publication on Monday. The stock is approaching its 52-week high of $674.18, according to Benzinga Pro.
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