BMO raises Deere PT on better 2026 profit forecast

BMO Capital raise price target on agricultural-equipment maker Deere & Co DE.N to $460 from $425, a downside of 12.6% to the stock's last close

Rating unchanged at 'market perform'

BMO raises Deere's 2026 adj EPS forecast to $21.43 from $21.33 due to expected improved retail demand

However, cuts co's 2025 adj. EPS guidance to $18.62 from$19.20

Says co remains confident of bringing down inventories in coming quarters through increased dealer incentive funds

Adds DE plans to produce mid-size tractors in Europe, expecting return of retail demand

Co on Thursday posted Q2 profit that beat estimates

Ten of 24 brokerages rate the stock "buy" or higher, thirteen "hold" and one "sell"; their median PT is $545- as per LSEG data

As of last close, stock had risen 24.2% YTD