Deere & Co. (NYSE:DE) posted better-than-expected second-quarter results on Thursday.

Quarterly net sales and revenue fell 16% year-over-year to $12.76 billion, topping the consensus estimate of $10.79 billion.

Net sales were $11.17 billion for the quarter and $17.98 billion for the first half, down from $13.61 billion and $24.10 billion a year ago. Deere's EPS was $6.64, down from $8.23 in the prior year, beating the consensus of $5.59.

John Deere Chairman and CEO John May said, "Despite the near-term market challenges, we remain confident in the future," reaffirming the company's commitment to delivering value through continued investment in advanced products, solutions, and manufacturing capabilities.

For 2025, Deere expects net income to be between $4.75 billion to $5.50 billion (prior $5.0 billion and $5.5 billion).

Deere shares gained 3.3% to trade at $533.17 on Friday.

These analysts made changes to their price targets on Deere following earnings announcement.

• JP Morgan analyst Tami Zakaria maintained Deere with a Neutral and raised the price target from $490 to $540.
• Barclays analyst Adam Seiden maintained the stock with an Overweight rating and raised the price target from $475 to $530.
• Baird analyst Mircea Dobre maintained Deere with a Neutral and raised the price target from $501 to $514.
• B of A Securities analyst Ross Gilardi maintained the stock with a Neutral and raised the price target from $495 to $556.
• Raymond James analyst Tim Thein maintained Deere with an Outperform rating and raised the price target from $530 to $560.
• Oppenheimer analyst Kristen Owen maintained the stock with an Outperform rating and raised the price target from $513 to $555.
• Truist Securities analyst Jamie Cook maintained Deere with a Buy and raised the price target from $546 to $619.

Considering buying DE stock? Here’s what analysts think:

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