CNH Stock Forecast & Price Target

CNH Industrial is attractive because its core agricultural franchise, which drives 82% of industrial net sales, is benefiting from healthier dealer inventories, improving pricing, and early signs that 2026 may mark the trough of the cycle, with North American order intake up 15%–20% on seasonal products. The company’s 3Q’26 results showed Industrial Activities sales of $3.684B, adjusted EPS of $0.16 versus $0.10 consensus, and adjusted EBIT margin expansion to 5.5%, while the planned sale of 70% of Construction for $700M in cash should reduce debt and sharpen focus on higher-return farm equipment. With a 2,600-plus dealer network across 164 countries, a supportive finance arm, and a path toward 16%–17% ag margins, the business appears positioned to benefit from self-help, pricing, and a potential recovery in farm demand.

CNH Industrial is facing a fundamentally cautious setup because its re-rating depends on both an agricultural cycle upturn and clear execution of its 2030 strategic plan, yet management remains guarded on Ag, potentially even in 2027. The stock has also spent the last 2+ years oscillating between $10 and $14, suggesting investor conviction remains limited and the market is reluctant to assign a higher multiple without stronger operating evidence. Trading at about 14.5x next-twelve-month EV/EBITDA, the shares appear vulnerable if cyclical demand recovery or strategic progress disappoints, which supports a negative outlook.