JPMorgan Downgrades CNH Industrial Amid Deere's Weaker Outlook

Friday, Nov 28, 2025 10:20 am ET1min read

JPMorgan has downgraded CNH Industrial to Underweight, citing Deere's weaker-than-expected 2026 guidance. Deere expects North America large ag industry sales to decline 15-20% next year, leading to further earnings cuts for CNH. JPMorgan models CNH EPS at $0.49 for 2025, $0.44 for 2026, and $0.58 for 2027, down from previous assumptions. The bank has set a $10 price target for December 2026.

JPMorgan Downgrades CNH Industrial Amid Deere's Weaker Outlook

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