UBS Maintains Bullish Stance on Deere & Company (DE) Following Meetings with Management

Core Insights - Deere & Company (NYSE: DE) is a significant holding in Bill Gates's stock portfolio, representing 3.79% of it [1] - UBS maintains a "Buy" rating on Deere & Company with a price target of $535 following discussions with management [2] - The company faces challenges due to delays in new equipment orders from farmers, leading to a wide range of possible outcomes for North American agriculture trends in 2026 [3] Financial Performance - Deere & Company reported weaker fiscal Q3 results in August, with declines in sales and net income attributed to lower crop prices and macroeconomic pressures [4] - Both segments, Production & Precision Agriculture and Small Agriculture & Turf, experienced decreased sales due to lower shipment volumes [4] Future Outlook - The trend of declining sales is expected to continue amid macroeconomic uncertainties, although a potential soybean trade deal could enhance farmer confidence [5] - UBS anticipates that Deere & Company's 2026 guidance will indicate a lean start [5] - The company specializes in the manufacturing and distribution of agricultural, construction, and forestry equipment [5]