BMO Capital analyst Joel Tiss kept his Outperform rating and $195 price target on Deere following investor meetings with its management last week that gave him better understanding of the company's ability to nearly double the price of its agriculture equipment. The analyst cites the company's focus on "optimizing farmers' jobs versus simply enhancing the mechanical side of the equipment", yielding a much smaller decline in large tractor sales from the 2013 peak than the 60% dropoff experienced in the industry. Tiss is also positive on Deere's subscription revenue initiatives that allows farmers to use databases to maximize yields and productivity as well as the building strength in the ag market in spite of the crop prices remaining depressed.

Cyngn (CYN) has been chosen to supply its DriveMod Tuggers for industrial automation to John Deere's (DE) operation in Dubuque, Iowa. Cyngn is a supplier of AI-powered autonomous vehicle and data solutions based in Menlo Park, CA.