Goldman Sachs is raising its price target on AGCO Corp. AGCO from $62 to $68 and is maintaining its Neutral rating on the stock, based upon improved risk-reward.
According to Goldman Sachs, “We maintain our Neutral rating, as we continue to prefer mining equipment manufacturer Joy Global (JOYG, Buy, $99.86) for commodity reinvestment exposure, but we now see improved risk reward in AGCO, as multiple contraction after strong 1Q results creates a sharp relative value gap to ag equipment peers CNH (Sell, $48.10) and Deere (DE, Neutral, $97).”
AGCO closed yesterday at $57.
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date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
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Posted In: Analyst ColorPrice TargetAnalyst RatingsAGCO Corp.CNH Global N.V.Deere & Co.Goldman Sachs
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