Deere & Co. (NYSE:DE) shares inched higher in early trading on Friday, after the company reported upbeat fiscal fourth-quarter results.

The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.

Goldman Sachs On Deere & Co.

Analyst Jerry Revich maintained a Buy rating while raising the price target from $466 to $504.

Deere’s fiscal fourth-quarter results revealed sa ignificant inventory destock of $2.6 billion “to bring dealer inventories to levels approaching prior trough,” Revich said in a note. The used agricultural machinery market showed “signs of stabilization,” as inventories down 1% over the past six months, he added.

The company’s initial 2025 guidance reflects “40%+ decremental margins vs. 36% in 4Q24 and 36% for the full year,” the analyst wrote. In precision agriculture, adoption rates have continued to rise across Deere’s portfolio and revenues in this business could …

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