Deere & Co. sees ag cycle bottom in 2026, analysts reassess the stock

By Stefan Krueger, Long-Term & Business Model desk. Reviewed prior to publication on 2026-06-27, 14:49.

Deere & Co. (US24419L1061) is back in analyst focus after recent investor meetings in New York, with the NYSE-listed group outlining its view that 2026 should mark the bottom of the agriculture cycle according to RBC Capital. Investing.com summarizes the RBC note.

What RBC Capital highlights

RBC Capital reiterated its Outperform rating on Deere after the meetings, keeping a price target of 752 US dollars per share and pointing to management’s stance that the current agriculture downturn should trough in 2026. The RBC commentary notes that Deere shares trade on the NYSE under the ticker DE and are up around 35 percent year-to-date from a level near 630 US dollars.

According to the same report, Deere’s management expects that after the 2026 bottom, the agriculture equipment cycle should gradually improve, with tariffs on farm and construction equipment seen as flat year-on-year into 2027, which would provide a more stable backdrop for capital spending. A Yahoo Finance article also references this long-term cycle view.

Analyst views and consensus tone

Beyond RBC, several houses have adjusted their stance on Deere in recent weeks, with Freedom Broker reportedly setting a price target of 590 US dollars and a Hold rating, while Oppenheimer trimmed its target to 680 US dollars but maintained an Outperform view, citing weakness in Brazil yet highlighting structural strength in the core franchise. Investing.com’s analyst round-up underscores that expectations for Deere’s 2026 fiscal year include a roughly 9 percent sales decline before any potential recovery.

Deere is part of the S&P 500 and competes with peers such as CNH Industrial and AGCO in agriculture and construction equipment, with investors watching how the group navigates the late-cycle slowdown while balancing inventories and pricing power in key regions like North America and Brazil. Profile data on Yahoo Finance places the company firmly in the machinery sector.

The business behind the stock

Deere & Co. generates most of its revenue from agricultural equipment including large tractors, combines and precision planting systems, alongside a substantial construction and forestry segment and a financial services arm that finances machinery purchases. The company’s investor relations overview shows that precision agriculture, digital tools and connected machines are central to its long-term strategy.

Where the stock trades today

Deere & Co. shares (US24419L1061) last closed on 2026-06-26 at 613.24 US dollars on the NYSE, according to recent market data, with a market capitalization near 165.5 billion US dollars. TradingKey’s quote page lists the closing price and valuation metrics.

This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell securities, or a solicitation of any kind. All data are based on sources believed to be reliable but cannot be guaranteed. Investors should conduct their own research or consult a qualified advisor before making investment decisions.