ccNew York, Feb 22, 2026, 13:42 EST — The session has ended.
- Deere finished Friday at $662.49, ticking up 0.07% and hovering close to all-time highs as the new week begins.
- Deere’s brighter outlook prompted brokerages to bump up price targets, intensifying the ag-cycle “bottom” debate.
- Deere’s annual meeting lands on Feb. 25, and investors are eyeing it—along with those first hints of spring demand—for clues on where things go next.
Deere & Company finished Friday just barely higher, adding 0.07% to settle at $662.49. Shares are hovering near all-time highs following a steep climb after its earnings report.
U.S. markets are shut Sunday, but when trading picks back up Monday, Feb. 23, attention swings to how the stock performs. Right now, it’s behaving as though investors think the slump in major farm equipment sales is nearing bottom—a sign that falling demand may soon hit its low and begin to reverse.
Price targets saw a rapid overhaul Friday afternoon. RBC Capital Markets bumped its estimate up to $736 from $541. UBS, meanwhile, upped its own target to $775 from $535. Truist and Bank of America Securities raised their numbers as well, according to Benzinga.
A price target is just an analyst’s call on where the stock might land within a year or so. That’s coming into focus now, with Deere’s shares already making a big move and not leaving much uncertainty on the table.
Deere turned in fiscal first-quarter net income of $656 million, or $2.42 per share, on $9.61 billion in net sales and revenues last week. The company bumped up its fiscal 2026 net income guidance, now calling for $4.5 billion to $5.0 billion. CEO John May pointed to improving demand for construction and small ag equipment, calling 2026 “the bottom of the current cycle.” PR Newswire
Friday’s session saw some jagged moves, despite a quiet close. Deere swung from $646.40 to $666.92, with volume landing near 3 million shares. That came right after Thursday’s 11.58% surge.
Traders are shifting their focus away from the main guidance and zoning in on the channel specifics. Dealer inventories, the pace of early spring orders, even a whiff of price cuts in big agriculture — any of these could move sentiment quickly.
Tariffs stand out as the main obstacle. Deere faces roughly $1.2 billion in added production costs for fiscal 2026 because of them. And with farm income still soft, demand for pricier equipment could take a hit.
Deere often serves as a bellwether for the farm equipment space. Barron’s points out that AGCO and CNH Industrial—Deere’s peers—delivered strong quarters this season too, reinforcing hopes that the industry cycle could be firming up.
Deere’s valuation now looks stretched compared to its underlying numbers. Should large-ag replacement demand get pushed even further down the road, or tariffs start to hit harder, the stock could easily reverse some of this month’s gains—and not necessarily with much notice.
Deere’s annual meeting lands Wednesday, Feb. 25, at 10:00 a.m. Central. Investors want more details on demand, pricing, and how tariffs are playing out.
Looking ahead, Deere’s fiscal Q2 results land on May 21, marking the next earnings milestone.
