Deere Stock Rallies on Baird Upgrade to Outperform

Shares of Deere & Company rallied on Monday, August 31, 2026, after the investment firm Baird upgraded the agricultural equipment maker to an "outperform" rating and significantly raised its price target, citing an expected recovery in the North American farming market. The upgrade, which also included peers AGCO, CNH Industrial, and Titan Machinery, sent Deere's stock up approximately 4% in midday trading. The central catalyst for the move was Baird analyst Mircea Dobre's thesis that a cyclical trough in the agriculture sector is ending, with a volume recovery for large farm equipment projected for 2027.