DE breaks out of consolidation, targeting 1000

DE is finally breaking out of the consolidation phase it has been stuck in for months and appears to be resuming its long-term bullish trend. The long-term target is estimated to be around the 1000 mark.

Deere & Company (DE) has strong long-term potential due to its leadership in agricultural technology and steady profitability. Innovations like autonomous farming equipment support its growth. However, recent challenges, including weaker sales, lower customer demand, and revised financial guidance for 2024, have raised concerns about short-term performance. Broader economic pressures and competition add to the uncertainty, despite its commitment to increasing dividends