The Week

Deere fell 2.57% this week to close at $675.74, underperforming the S&P 500, which slipped 0.8%, by about 1.77 percentage points. Across four trading days the move was choppy rather than one-sided. Tuesday opened at $687.21, touched $690.58 intraday and faded to $680.73. Wednesday dipped to $672.62 at the low before settling at $677.21. Thursday’s range narrowed to end at $677.94. Friday opened higher at $685.92, spiked to $692.69, then gave back the gains to close at $675.74. Weekly amplitude was 3.1%. The stock remains in the upper part of its 60-day range but still below the range high of $705.88 set on 3 September.

Key Events

The week’s news flow centred on institutional positioning and the broader trade backdrop. On 8 September, a filing showed Amundi holding about $529.34 million in Deere shares. The same day, Canada’s new tariffs took effect, with Deere named among U.S. sectors and stocks to watch given its exposure to agricultural and construction equipment. A 9 September market note flagged that Deere underperformed peers on the Tuesday session. On 10 September, Stifel Nicolaus initiated coverage with a hold rating. There were no company-specific product launches or earnings updates during the week, leaving the outside trade environment and individual broker actions as the main drivers of attention.

Analyst Ratings

Across 24 brokers covering Deere, there are 10 buy ratings, 5 overweight, 8 hold, 1 underweight and 0 sell, with no opinions at zero. The consensus rating is buy, and the consensus target price is $685.19, about 1.4% above the week’s close of $675.74. The target range is wide at $500 to $813.18, a spread of more than $300, pointing to meaningful disagreement on the outlook. Deere ranks first among 11 names in the agricultural machinery industry, with analyst coverage above the industry average. The latest rating update is dated 3 September 2026, and no directional changes appeared during the week.

The Week Ahead

Macro data dominates the coming week. The New York Fed manufacturing index lands on 15 September, with a consensus forecast of 14.75 versus a prior reading of 20.6. On 16 September a batch of retail figures arrives: retail sales ex-autos (forecast 0.6, prior -0.3), headline retail sales (forecast 0.9, prior -0.6) and retail control (forecast 0.4, prior -0.4), alongside the NAHB housing market index, import prices and weekly EIA crude inventories. Deere’s own calendar is still far out: fourth-quarter fiscal 2026 results are scheduled for 25 November. With no company-level catalyst next week, the demand-side macro releases are the more relevant items to track.

In Short

Deere dropped 2.57% this week even as the broker picture leans constructive, with buy and overweight ratings outnumbering hold and underweight and a consensus rating of buy. Yet the consensus target is only about 1.4% above spot, and the gap between the top and bottom of the target range is wide. Valuation sits at roughly 37x P/E and 6.51x P/B, which is not cheap by historical standards. The latest daily money-flow snapshot shows large-lot selling against small-lot buying, a divided flow. Without a company-specific catalyst this week, the stock has traded more on industry and macro signals than on its own news. What comes next likely depends on whether the retail and manufacturing data can reshape demand expectations, while the wide target range suggests market participants still hold different views on Deere’s earnings path.

This article is generated by LongbridgeAI from market data, for information only and not investment advice.