11 Best Industrial Stocks to Buy Right Now

6. Deere & Company (NYSE:DE)

Year to Date Return as of June 20: 25.54%

Number of Hedge Fund Holders: 53

Deere & Company (NYSE:DE) is one of the 11 best industrial stocks to buy right now. On June 18, analysts at Bernstein reiterated a ‘Market Perform’ rating on the stock and a $548 price target. The bullish stance follows an analyst’s meeting with the company’s management in Brazil.

Bernstein expects operations in Brazil to bolster the company’s financial performance. It expects large agriculture revenues in the country to grow by two to three times over the next five to ten years. The expansions will likely trigger a 15% to 20% earnings growth across various business cycles.

The research firm also reiterated the ‘Market Perform’ rating on expectations of a 25-year history of local investment in Brazil, strengthening Deere’s competitive edge. Plans to invest $25 million for research development and the $100 million expansion of the Catalao factory are other developments that will strengthen the company’s growth metrics.

According to Bernstein, a strong dealer network and improved localized product offerings have helped Deere gain significant market share in Brazil. Therefore, the research firm believes the company is better positioned than AGCO (NYSE:AGCO).

Deere & Company (NYSE:DE) is a global leader in designing, manufacturing, and distributing advanced agricultural, construction, and forestry equipment. It also produces engines and drivetrain components for industrial and marine equipment and provides financing solutions for its equipment and other related products.