UPDATE: Jefferies & Company Reiterates Buy Rating, Raises PT on AGCO Corporation

In a report published Wednesday, Jefferies & Company reiterated its Buy rating on AGCO Corporation AGCO, and raised its price target from $52.00 to $55.00. Jefferies noted, “AGCO hosted its annual analyst meeting where it gave initial 2013 guidance. Sales guidance of $10.2-$10.4 bln and EPS of $5.50-$5.75 were ahead of street expectations of $10.1 bln and EPS of $5.50. Still, the regional outlooks appear conservative, and we believe upside remains. Maintain BUY and increased our PT to $55 from $52.” AGCO Corporation closed on Tuesday at $48.09.