Deere & Co. (NYSE:DE) shares are trending higher Tuesday, hitting a new all-time high and extending a rally that began Monday after Baird upgraded the stock to Outperform and sharply raised its price target.
- Deere stock is approaching key resistance levels. Why is DE stock breaking out?
Deere Touches a New All-Time High
Deere shares traded between $654.05 and $675.75 Tuesday, pushing past the stock’s prior 52-week high of $674.19 to mark a genuine all-time high rather than just a 52-week peak, a move that builds on a rally that started a day earlier.
That climb to record territory builds directly on a move that began a day earlier. Baird analyst Mircea Dobre lifted Deere to Outperform from a prior Neutral stance and pushed his price target up to $800 from $640.
Dobre framed Deere as the standout name in farm equipment right now, arguing its outsized dependence on North American row crop machinery makes it the go-to stock whenever investors start sensing agricultural conditions are about to turn, and he said his research points toward additional gains still to come as 2027 approaches.
Dobre built that case partly around wording buried inside Deere’s early order guidance for planters and sprayers, where the company pointed to sales growth in the mid-single digits versus the prior year’s finished program. Dobre interpreted that figure as intentionally cautious, arguing actual results could surprise to the upside once ordering wraps up, and treated it as a hint that Deere’s production and precision agriculture unit could be turning a corner.
Deere’s Chart Shows a Stock in a Clean Uptrend
Deere’s technical picture shows momentum, with shares trading well above their 20-day, 50-day, 100-day and 200-day moving averages. The 20-day average at $622.33 sits above the 50-day average of $613.46, which in turn is above the 200-day average of $564.86, a bullish alignment pointing to an intact uptrend. With the stock trading near $671, the setup favors dip buyers unless price breaks below those shorter-term averages.
Momentum supports the view, with the MACD line above its signal line and a positive histogram. Traders are watching $674 as resistance near new highs, and $590 as support, tied to the broader uptrend if momentum cools.
DE Shares Are Rising
DE Price Action: Deere shares were up 2.66% at $672.32 at the time of publication on Tuesday. The stock is trading near its 52-week high of $674.18, according to Benzinga Pro.
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