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UPDATE: Jefferies Raises PT on AGCO Corporation on EPS Guidance

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In a report published Wednesday, Jefferies reiterated its Buy rating on AGCO Corporation (NYSE: AGCO), and raised its price target from $58.00 to $62.00.

Jefferies noted, “AGCO reported EPS of $0.99 ex. items, $0.04 ahead of our estimate (cons $0.98). Sales were above our estimates but EBIT margin of 5.2% was 40 bps below our model. EPS guidance lowered to $5.10-$5.35 (prior: $5.50-$5.75) due to increased tax expense of $0.40. Initial 1Q13 EPS guidance was $0.85 while end market growth estimates unchanged. Maintain our Buy rating and bump PT to $62.”

AGCO Corporation closed on Tuesday at $53.54.

Latest Ratings for AGCO

DateFirmActionFromTo
Jul 2016PiperJaffrayDowngradesNeutralUnderweight
Jul 2016CitigroupMaintainsNeutral
Jun 2016JP MorganDowngradesNeutralUnderweight

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