BUZZ-Jefferies raises Deere's PT, cites tech-driven automation roadmap

Reuters12-09 19:07
BUZZ-Jefferies raises Deere's PT, cites tech-driven automation roadmap

** Jefferies lifts PT on tractor maker Deere DE.N to $475 from $440, maintains "hold" rating

** New PT shows an upside of 1.9% from stock's last close

** Brokerage says co's long-term strategy is about driving growth and profitability through services, technology and M&A, while expanding digital engagement and laying the groundwork for recurring revenue

** Deere's analyst day outlined a tech-driven path to full automation by 2030 with precision tools, advanced connectivity, and a leading digital platform across agriculture and construction, says Jefferies

** 14 of 25 brokerages rate stock "buy" or higher, 11 "hold" ; their median PT is $520- data compiled by LSEG

** YTD, stock up 10%

(Reporting by Apratim Sarkar in Bengaluru)

((Apratim.Sarkar@thomsonreuters.com))

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