Oppenheimer cuts Deere PT on tariff-driven cost pressures

Oppenheimer cuts the Price Target (PT) on farm-equipment maker Deere DE.N to $512 from $566, the new PT a premium of 9.1% from the stock's last close

Brokerage maintains rating at "outperform"

The new Section 232 steel tariffs will raise costs for co , especially in its construction and forestry segment, Oppenheimer says

Price hikes planned for 2026 may not fully offset co's higher expenses, brokerage adds

Oppenheimer trims its margin outlook for Deere's upcoming Q4 and for FY 2026 over increased cost pressures from newly imposed steel tariffs

11 of 24 brokerages rate the stock "buy" or higher, 12 "hold" and 1 "sell"; their median PT is $512, according to data compiled by LSEG

As of last close stock had risen 10.7% YTD