Deere & Company shares rise on analyst upgrades

Shares of Deere & Company rose following positive analyst reports suggesting a potential recovery in the North American farming market. Baird analyst Mircea Dobre upgraded the stock from Neutral to Outperform and raised the price target from $640 to $800, citing expectations that rising corn and soy prices will boost farming profits and demand for agricultural machinery.

Additionally, Raymond James increased its price target for Deere from $700 to $730 while maintaining a buy recommendation. While the stock saw gains of approximately 2.6% to 4% following these signals, some metrics from GuruFocus suggest the current trading price may be significantly above its calculated intrinsic value.