On August 31, Deere rose 3.12% in pre-market trading, trading at approximately $650.29/share, with turnover of $1.3058 million. The rally was driven by Baird upgrading Deere from Neutral to Outperform and raising its price target from $640 to $800, one of the highest targets among Wall Street firms.

The upgrade follows Deere's strong fiscal Q3 results reported on August 20, in which EPS came in at $5.10, beating consensus estimates of $4.70 by $0.40. Net sales reached $12.61 billion, up 4.9% year-over-year, exceeding expectations by nearly $1.9 billion. The company also raised its full-year net income guidance to $4.75-5.0 billion. Multiple institutions have since lifted their price targets, including DA Davidson to $760, Daiwa Securities to $705, and BofA to $667. RBC Capital Markets noted Deere is well-positioned for recovery, supported by positive early order program trends and growing adoption of precision agriculture technologies such as See & Spray.

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