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Wells Fargo upgrades Deere, sees upside with farm automation

Yahoo Finance's Brian Sozzi explains why Deere stock is rising today.

Video Transcript

BRIAN SOZZI: All right, we're keeping a close eye on shares of John Deere. Wells Fargo reinstated coverage of the farm equipment maker, with a buy rating and a price target that assumes 20% upside from current levels. Given the surge in grain prices, that is likely to help the cash coffers of farmers. And this upgrade makes a lot of sense, seeing shares up close to 3% on this note.