Deere Posts Q4 Beat: 2025 Outlook Isn't Rosy But Company Has 'Relative Strength,' Analysts Say
Deere Posts Q4 Beat: 2025 Outlook Isn't Rosy But Company Has 'Relative Strength,' Analysts Say
Deere's fiscal fourth-quarter results revealed sa ignificant inventory destock of $2.6 billion "to bring dealer inventories to levels approaching prior trough," Revich said in a note. The used agricultural machinery market showed "signs of stabilization," as inventories down 1% over the past six months, he added.Deere & Co. (NYSE:DE) shares inched higher in early trading on Friday, after the company reported upbeat fiscal fourth-quarter results.
迪尔股份（纽交所代码：DE）在周五早盘小幅上涨，因该公司发布了积极的财报第四季度业绩。
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
公司在一季度盈利季中发布了其业绩。以下是一些重要的分析师观点。
Goldman Sachs On Deere & Co.
高盛关于迪尔股份的分析
Analyst Jerry Revich maintained a Buy rating while raising the price target from $466 to $504.
分析师杰瑞·瑞维奇维持买入评级，同时将目标价格从466美元上调至504美元。
Deere's fiscal fourth-quarter results revealed sa ignificant inventory destock of $2.6 billion "to bring dealer inventories to levels approaching prior trough," Revich said in a note. The used agricultural machinery market showed "signs of stabilization," as inventories down 1% over the past six months, he added.
迪尔的财报第四季度业绩揭示了26亿的库存去库存，"旨在将经销商库存降至接近前一个低谷的水平，"瑞维奇在一份报告中表示。二手农业机械市场出现了"稳定的迹象，"因为在过去六个月里库存下降了1%，他补充道。
The company's initial 2025 guidance reflects "40%+ decremental margins vs. 36% in 4Q24 and 36% for the full year," the analyst wrote. In precision agriculture, adoption rates have continued to rise across Deere's portfolio and revenues in this business could reach around $5 billion this year, he further stated.
该公司的2025年初步指引反映出"40%以上的边际下降，较第四季度24年的36%和全年36%有所下降，"该分析师写道。在精准农业方面，迪尔的产品组合的采纳率继续上升，该业务的收入可能在今年达到大约50亿，他进一步表示。
Check out other analyst stock ratings.
查看其他分析师的股票评级。
Oppenheimer On Deere & Co.
奥本海默关于迪尔股份的分析
Analyst Kristen Owen reiterated an Outperform rating while lifting the price target from $448 to $477.
分析师Kristen Owen重申了超越表现的评级，同时将目标价格从448美元上调至477美元。
Deere reported earnings of $4.55 per share on revenues of $11,143 million, higher than consensus of $3.87 per share and $11,052M, respectively, Owens said. "DE executed against its targeted underproduction in F4Q, enabling it to enter FY25 from a position of relative strength," he added.
迪尔股份报告每股收益为4.55美元，营业收入为1114300万，高于市场共识的每股3.87美元和1105200万，Owens表示。"迪尔在F4Q实施了目标性减产，使其能够以相对强势的姿态进入FY25," 他补充道。
The outlook is still concerning, with global agriculture fundamentals likely to deteriorate further in 2025, the analyst stated. "That said, the guide embeds an outlook for production cadence converging with demand, muted but positive price and price/cost, and solid cost execution," he further wrote.
分析师表示，前景仍然令人担忧，预计全球农业基础面在2025年可能进一步恶化。"也就是说，指引内嵌了生产节奏与需求趋同、温和但积极的价格和价格/成本，以及扎实的成本执行的前景，" 他进一步写道。
BMO Capital Markets On Deere & Co.
BMO资本市场关于迪尔股份的报告
Analyst Joel Jackson reaffirmed a Market Perform rating and a price target of $400.
分析师Joel Jackson重申了市场表现评级，目标价格为400美元。
The company's net income guidance range of $5 billion to $5.5 billion represents a contraction of around 50% from the 2023 peak, Jackson said. Management's commentary suggested performance could turn flattish or positive "at some point" in the second half of fiscal 2025, he added.
该公司净利润指导区间为50亿到55亿，较2023年的高峰收缩约50%，Jackson表示。管理层的评论暗示，表现可能在2025财年的下半年"在某些时候"变得平稳或积极，"他补充道。
"Used equipment dynamic still normalizing for 1-2 year old combines/tractors in N. America," the analyst wrote. He further stated that fiscal 2025 earnings trough is expected to be below $20 per share.
"北美1-2年旧的收割机/拖拉机的二手设备动态仍在正常化，"分析师写道。他进一步指出，预计2025财年的收益低谷将低于每股20美元。
DE Price Action: Shares of Deere & Co. had risen by 1.46% to $443.92 at the time of publication on Friday.
DE价格动态：在周五发布时，迪尔股份的股票上涨了1.46%至443.92美元。
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