BUZZ-Barclays lifts PT on Deere, cites inventory progress
Reuters04-01 19:54
BUZZ-Barclays lifts PT on Deere, cites inventory progress
** Barclays raise price target on tractor maker Deere & Co DE.N to $640 from $530, maintains rating at "overweight"
** New PT shows an upside of 13.6% from the stock's last close
** Brokerage says improving inventory trends point to a rebound in company's North American agriculture business in 2026
** Adds early stabilization in Europe and stronger demand for higher-value combines could help support earnings even as company's overall volumes remain weak
** 14 of 25 brokerages rate the stock "buy" or higher, 11 "hold"; their median PT is $656.50 - data compiled by LSEG
** As of last close, stock had risen 21% YTD
(Reporting by Apratim Sarkar in Bengaluru)
((Apratim.Sarkar@thomsonreuters.com))
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