On September 1, Deere rose 3.13% in regular trading, trading at $675.23/share, with turnover of $455 million. The rally was driven by Baird upgrading Deere from Neutral to Outperform and raising its price target sharply to $800 from $640, one of the highest institutional targets in recent months and well above the consensus mean target of $680.38.

The upgrade is underpinned by Deere's strong fiscal Q3 results reported on August 20, in which EPS came in at $5.10, beating estimates by $0.40, while net sales of $12.61 billion grew 4.9% year-over-year and exceeded consensus by nearly $1.9 billion. In its research note, Baird also upgraded peers CNH Industrial and AGCO, citing improving agricultural recovery prospects heading into 2027 as commodity prices stabilize and farmer income expectations improve, potentially reigniting equipment replacement demand.

Within the Agricultural & Farm Machinery sector, the broader group traded higher. CNH Industrial N.V. rose 3.42%, AGCO Corp gained 1.23%, Alamo added 0.24%, Toro rose 0.25%, while Lindsay slipped 0.76%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)