Deere & Co. stock reached a record high above $700 per share this week, jumping 10% following a strong Q3 earnings report and a $250 million increase to full-year net income guidance. CEO John May indicated that 2026 will mark the bottom of the agricultural equipment cycle, signaling the start of a recovery. Analyst Mircea Dobre maintains a buy rating and projects the stock could reach $800, representing 15% upside potential.
Axe note: Deere's record run points to a turning point in global agriculture that South African investors should watch closely.