Truist Securities retains its Buy rating on Deere & Company (NYSE:DE) with a price target of $619. The firm emphasizes the company’s growing presence in Brazil, which is pivotal for long-term growth and resilient earnings. Over the past twenty years, Deere has established a solid footing in Brazil through localized manufacturing and product development, helping capture significant market share.

As Brazil’s agricultural sector shifts towards larger commercial farms, Deere’s precision agriculture technologies are gaining traction. Anticipated performance improvements are linked to the adoption of these innovations, enhancing the firm’s growth strategy in the region.