UPDATE: Jefferies Raises PT on AGCO Corporation on EPS Guidance
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
|Jun 2016||JP Morgan||Downgrades||Neutral||Underweight|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.