Scott Olson John Deere (NYSE:DE) reported Q3 results yesterday, delivering a double-digit beat vs consensus EPS and affirming its full year guidance of ~$7B in net income. Following several subsequent guidance downgrades in the previous quarters, this in our view removes a major overhang for shares. With valuation remaining cheap, this should drive shares to reprice on an expected 2025 agri cycle recovery, as argued by us in our initiation note. While retaining company-level guidance, management lowered ...