Jefferies upgrades Deere stock rating to hold on valuation

try{ var _=i o; . if(!_||_&&typeof _==="object"&&_.expiry Trump suspends Iran strikes for two weeks as Tehran tentatively accepts ceasefire Oil slumps 15% as Trump touts Iran ceasefire, vows help on Hormuz traffic Stocks eke out gain as Pakistan asks for Iran deadline extension, 2-week ceasefire Iran latest: Pakistan asks Trump for extension as key deadline approaches (South Africa Philippines Nigeria) Jefferies upgrades Deere stock rating to hold on valuation By Analyst Ratings Published 04/08/2026, 03:57 AM Jefferies upgrades Deere stock rating to hold on valuation 0 DE 0.16% Investing.com - Jefferies upgraded Deere & Company (NYSE:DE) to Hold from Underperform on Wednesday and set a price target of $550.00. The upgrade follows a roughly 15% decline in Deere shares since mid-February. Jefferies views the risk-reward profile as more balanced at current levels. The stock currently trades at $576, up 26% over the past six months, though InvestingPro analysis suggests the shares remain overvalued relative to its Fair Value estimate. The firm describes Deere as one of its highest-quality companies, citing strength in product innovation, significant market penetration and a large captive data lake. An InvestingPro tip highlights Deere as a prominent player in the Machinery industry, with the company maintaining dividend payments for 56 consecutive years. Trough-to-peak revenues have grown on average approximately 65% over the last four cycles. Jefferies’ scenario analysis calls for 75% growth for the next cycle, consisting of 65% volume growth and 10% price growth. The firm projects an incremental margin of 35% over the next three years. The $550 price target applies a peak multiple of 15 times price-to-earnings, compared with historical peak-to-trough multiples of 10 to 20 times, and discounts back approximately 10% to 2026. The company currently trades at a P/E ratio of 32.3. For deeper analysis, investors can access Deere’s comprehensive Pro Research Report, one of 1...