These Analysts Revise Their Forecasts On Deere After Q3 Results

Core Insights - Deere & Company reported mixed third-quarter results, with earnings per share of $4.75, surpassing the consensus estimate of $4.67, while quarterly sales declined by 9% to $12.02 billion, exceeding the consensus of $10.31 billion [1] - The company experienced a 16% decrease in production and precision agriculture sales for the quarter, totaling $4.27 billion, attributed to lower shipment volumes and unfavorable price realization [1] - Deere narrowed its fiscal 2025 net income guidance to a range of $4.75 billion to $5.25 billion, down from the previous forecast of $4.75 billion to $5.50 billion, due to cautious customer sentiment amid ongoing uncertainty [2] Stock Performance - Deere shares increased by 1.7%, trading at $486.88 following the earnings announcement [3] - Analysts adjusted their price targets for Deere after the earnings report, with varying opinions on the stock's future performance [3] Analyst Ratings - Oppenheimer analyst Noah Kaye maintained an Outperform rating and raised the price target from $560 to $566 [7] - Truist Securities analyst Jamie Cook maintained a Buy rating but lowered the price target from $619 to $602 [7] - Baird analyst Mircea Dobre maintained a Neutral rating and reduced the price target from $520 to $488 [7]