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Can Deere Stock Continue Its Recovery?

Can Deere Stock Continue Its Recovery?

Deere (DE) has underperformed the broader market S&P 500 (SPY) this year. As of September 24, Deere has fallen 3.2% YTD but has managed to outperform peers AGCO (AGCO) and CNH Industrial (CNHI), which have fallen 15.7% and 6.7%, respectively. However, it has underperformed Caterpillar (CAT) marginally. CAT is down by 2.3% on a year-to-date basis.