Deere investments look 'transformational' for company, trader says ahead of earnings

The company, whose stock is up more than 30% this year, will release results before the bell Friday.

"Its investments into agrotech are very real and could be transformational for this company," Sanchez told CNBC's "" on Thursday. "They're allowing farmers to do precision farming, not just getting the seeds in the ground as fast as possible but putting them in the right place where they have the best chance at growing."

"It's something you can pick up right now at 22 times forward earnings," Sanchez added. "So we think that it not only meets all the conditions of the market, which is that it's not overvalued, but it also has growth potential.

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