Agricultural Equipment TrendsRecent survey data shows lingering demand weakness and a perhaps worsening environment for dealers.
Competitive PositioningThe analyst prefers CAT (Buy) over DE (Neutral), as there is higher support for CAT's markets and potential upside risk to metals, which could influence DE's stock unfavorably.
Financial Guidance AdjustmentDE cut its 2024 net income guidance from $7.75-8.25bn to $7.5-7.75bn, indicating a downward revision which is somewhat rare for the company early in the year.