10 Important News Updates Investors Shouldn’t Miss

7. Deere & Company (NYSE:DE)

Number of Hedge Fund Holders: 41

Deere & Company (NYSE:DE) manufactures and sells agricultural, construction, forestry equipment, and financial services worldwide.

On February 10, JPMorgan raised the price target for Deere & Company (NYSE:DE) to $500 from $470, expecting short sellers to continue exiting their positions. The firm pointed to several factors driving the recent rise in agricultural equipment stocks, including a $30 billion aid package that could boost U.S. farm income by about 30% in 2025, just below previous highs. There is also speculation that increased agricultural imports may be used as a trade strategy, especially with China. Leadership at AGCO, CNH, and Deere believe 2025 will mark the low point of the current cycle.

The analyst further noted that despite weak earnings and margins expected in early 2025, agricultural equipment stocks could still trade at historically favorable valuation multiples. Further upside may come from positive commentary later in the year and the distribution of aid funds. However, potential risks include a proposed reduction in crop subsidies and possible import tariffs, which could affect AGCO if European goods face duties.