Here's Why Deere Has a Multi-Decade Growth Runway
In the years leading up to the COVID-19 pandemic, Deere (NYSE: DE) was struggling to grow profits consistently. 2013 had remained its record-high year for net income, and the stock price had never exceeded $200 per share. Today, it trades for around $345 per share -- double three years ago -- even though it is down from its spring high of $446.
Deere has proven to be a subtle yet effective growth story. It is now the largest farm and heavy construction equipment company by market capitalization -- even bigger than Caterpillar. And in its latest quarterly report, the company is guiding for full-year earnings of $7 billion to $7.2 billion -- which would easily eclipse its record high of just under $6 billion in 2021.
It's no wonder the stock has done so well. Here's why Deere is still worth considering today.
Source Fool.com
