Feltl and Company: Strong Buy Rating on Titan Machinery Despite Degrades in Corn Crop Conditions

According to a research report from Feltl and Company this morning, USDA reported degrades in corn crop condition although Titan Machinery

is still expected to see strong crops in a weak national crop year. Feltl and Company explained, “TITN operates farm machinery dealers in Iowa, Minnesota, Nebraska, North Dakota, and South Dakota. Although early it is possible TITN's region could see strong crops in a weak national crop year. This would favorably compound the margin opportunity for its customers and imply strong sales momentum developing at TITN through summer 2013 if its region has relatively stronger crops.” Titan Machinery closed yesterday at $32.76 as Feltl and Company maintains its Buy rating and a PT of $41.44.