ccNew York, Feb 22, 2026, 13:42 EST — Market closed.
- Deere shares ended Friday at $662.49, up 0.07%, near record territory into the new week.
- Brokerages lifted price targets after Deere’s outlook raise, sharpening the debate on an ag-cycle “bottom.”
- Investors will watch Deere’s Feb. 25 annual meeting and early spring demand signals for the next move.
Deere & Company shares closed Friday up 0.07% at $662.49, near record levels going into the week after a sharp post-earnings run. (John Deere Investor Relations)
With U.S. markets closed on Sunday, the next test comes when trading resumes on Monday, Feb. 23. The stock is now trading like investors believe the downturn in big farm equipment is close to a trough — the point where demand stops falling and starts to recover.
Analysts moved quickly to reset targets into Friday afternoon. RBC Capital Markets raised its price forecast to $736 from $541, while UBS lifted its target to $775 from $535; Truist and Bank of America Securities also raised their forecasts, Benzinga reported. (Finviz)
A price target is simply a forecast — where an analyst thinks the stock could trade over roughly the next year. It matters right now because Deere’s shares have already done a lot of the work, leaving less room for doubt.
Deere last week reported fiscal first-quarter net income of $656 million, or $2.42 per share, on net sales and revenues of $9.61 billion, and lifted its fiscal 2026 net income outlook to $4.5 billion to $5.0 billion. Chief executive John May said the company was seeing recovery in construction and small agriculture demand and that “2026 represents the bottom of the current cycle.” (PR Newswire)
Friday’s tape was choppy even though the finish looked calm. Deere traded between $646.40 and $666.92 and drew about 3 million shares of volume, after Thursday’s 11.58% jump. (Investing)
What traders will watch next is less about the headline guidance and more about the channel. Dealer inventory levels, early spring ordering and any hint of price discounting in large agriculture can swing sentiment fast.
Tariffs are the obvious snag. Higher production costs tied to tariffs are expected to cost Deere about $1.2 billion in fiscal 2026, while weak farm income can still curb demand for high-ticket machines. (Reuters)
Deere is also a read-across stock for farm equipment. Barron’s flagged that peers AGCO and CNH Industrial have also reported solid results this season, adding to the idea that the cycle may be stabilizing. (Barron’s)
Still, Deere’s valuation has moved ahead of the fundamentals. If large-ag replacement demand slips further out — or if tariffs bite harder — the stock can give back part of this month’s move without much warning.
The next near-term catalyst is Deere’s annual meeting on Wednesday, Feb. 25, at 10:00 a.m. Central time, where investors will be looking for fresh color on demand, pricing and tariff costs. (Central Virtual Shareholder Meeting)
After that, the next earnings checkpoint is expected on May 21, when Deere is due to report fiscal second-quarter results. (Zacks)
