Deere Raises Profit Forecast as It Sees Signs of Recovery

Deere & Co., the world’s largest manufacturer of farming machinery, raised its 2017 profit forecast and said there are signs the worst may be over in a market that’s suffered a sustained slump lasting years. Net income will be about $1.5 billion in the year through October, Deere said Friday in a statement, exceeding both its own previous forecast and the average estimate among analysts, both of which were $1.4 billion.