Deere stock drops after Jefferies downgrade as tariff jitters keep buyers cautious
Deere & Co shares fell 2.5% to $646.26 after Jefferies downgraded the stock to Underperform, citing stretched valuation at 35 times earnings. The broker raised its price target to $550 and warned of prolonged farm sector weakness. Deere expects a $1.2 billion pre-tax tariff impact in fiscal 2026. Investors await the next earnings report on May 21.
