UBS Maintains Bullish Stance on Deere & Company (DE) Following Meetings with Management

Deere & Company (NYSE:DE), which accounts for 3.79% of Bill Gates’s stock portfolio, is one of his top 15 stock picks.

On October 28, 2025, UBS reaffirmed its “Buy” rating on Deere & Company (NYSE:DE) with a $535 price target.

Following meetings with management, UBS signaled confidence amid a challenging environment. Due to multiple uncertainties, particularly delays in new equipment orders by farmers, Deere & Company (NYSE:DE) sees a “wide range of possible outcomes” for North American large agriculture trends in 2026. Short-term sales volumes may get hampered, as the company looks to prioritize used inventory reductions by limiting new sales.

Meanwhile, this followed Deere & Company’s (NYSE: DE) weaker fiscal Q3 results in August, where sales and net income declined due to lower crop prices and macroeconomic pressures. Both of the company’s segments, Production & Precision Agriculture and Small Agriculture & Turf, experienced a decline in sales due to lower shipment volumes.

Looking ahead, the trend is expected to persist amid macroeconomic uncertainties. Although UBS believes a potential soybean trade deal could boost farmer confidence, it remains “too early to call.” Deere & Company’s (NYSE:DE) 2026 guidance is expected to reflect a lean start, according to UBS.

Deere & Company (NYSE:DE) is focused on the manufacturing and distribution of agricultural, construction, and forestry equipment.

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