2024-03-20 06:41:25 ET
Summary
- The agricultural machinery industry, a key market to Deere to grow at 5.1% per year for the next ten years.
- Deere to invest further into automation technology that may provide a competitive advantage in the future.
- Fundamentals look strong in the long term but show signs of a slowdown in the short term.
- Valuation suggests that Deere stock is a hold, suggesting an annual return of 9.5%.
Investment Thesis
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Deere: Expect A Short-Term Slowdown Despite Good Long-Term Prospects