Is John Deere the New Tesla?

John Deere (NYSE: DE) stock closed today at $383.91, up 1.15% from yesterday's close of $379.68 per share. This is following Deere & Company's recent reveal of their fully autonomous 8R tractor and a $415 stock price prediction from Barclays.

What Is John Deere?

John Deere is the leading provider of agricultural and forestry machinery in the world. They manufacture and distribute machinery, heavy equipment, diesel engines, drivetrains, lawn care equipment and more. Established in 1837, Deere & Company has been providing quality equipment to farmers, contractors, and homeowners for generations.

Why Are Investors Interested in Deere & Company (DE) Stock?

John Deere Autonomous Tractor

John Deere has recently revealed a fully autonomous tractor that's ready for large-scale production. This has dubbed Deere as the "Tesla of tractors." With global population expected to grow to nearly 10 billion people by 2050, these kinds of innovations will be crucial for meeting demands in agriculture. And similar to Caterpillar (CAT), John Deere is well-positioned for a demand increase as the government looks to invest in critical sub-sectors of infrastructure.

John Deere Stock Is Only the Beginning

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