UPDATE: Jefferies Maintains Hold, Raises Pt to $60 on AGCO - AGCO (NYSE:AGCO)

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Jefferies reiterates its Hold rating on AGCO (NYSE: AGCO) and raises its price target to $60 from $55 per share as it remains bullish on the machinery space. Jefferies says, "Machinery stocks were up 8% relative to the S&P 500 in 4Q and 5% so far in 2012. Even so much our coverage universe remains 15-20% below mid-cycle valuation levels. Industry/company specific data points continue to support our expectations for growth in key end markets. We continue to be bullish on the machinery space."AGCO closed at $$41.99 per share on Thursday.

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