Why Deere Stock Hit an All-Time High This Week

Deere & Co. (DE) climbed above $700 per share this week, posting a 10% gain after the agricultural equipment maker reported third-quarter earnings and raised full-year net income guidance by $250 million. The stock hit an all-time high on the move.

CEO John May told investors that 2026 will mark the bottom of the agricultural equipment cycle, pointing to recovery ahead. The forecast offers the first clear timeline for when farm machinery demand may begin to stabilize after a prolonged downturn.

Analyst Mircea Dobre maintains a buy rating on DE with an $800 price target, implying 15% upside from the record highs reached this week. The target suggests confidence that the earnings momentum and cyclical turn can support further gains despite the stock already trading at peak levels.

The guidance raise and cyclical outlook shifted sentiment on a name that has faced headwinds from weak farm incomes and oversupply in used equipment markets.