- BofA analyst Ross Gilardi downgraded AGCO Corp AGCO to Neutral from Buy and lowered the price target to $135 (an upside of 6%), from $154 post the Q3 earnings report.
- "Realistic peak earnings power" is now priced into the shares, Gilardi notes. The European CEMA index, which historically has coincided with key inflection points in Agco shares, has "rolled over."
- The analyst sees farm equipment market conditions remaining favorable for the next two years but says Agco shares are already priced for peak earnings of around $12 per share, "which seems about right."
- Morgan Stanley analyst Courtney Yakavonis lowered the price target to $153 (an upside of 20.5%) from $156 and maintained an Overweight rating on the shares.
- Recently, Credit Suisse lowered the price target to $155 (an upside of 22%) from $159 and maintained an outperform rating on the shares.
- Price Action: AGCO shares are trading higher by 3.66% at $126.68 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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