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AGCO (NASDAQ: AGCO) received a number of price target changes and ratings updates during the last week:

  • AGCO had its “neutral” rating reaffirmed by analysts at Citigroup Inc.. They now have a $55.00 price target on the stock, down previously from $58.00.
  • AGCO had its “equal weight” rating reaffirmed by analysts at Barclays. They now have a $55.00 price target on the stock, down previously from $62.00.
  • AGCO had its “hold” rating reaffirmed by analysts at Credit Suisse. They now have a $55.00 price target on the stock, down previously from $60.00.
  • AGCO had its “neutral” rating reaffirmed by analysts at Macquarie. They now have a $50.00 price target on the stock, down previously from $54.00.
  • AGCO had its price target lowered by analysts at BMO Capital Markets from $50.00 to $46.00.
  • AGCO had its “underperform” rating reaffirmed by analysts at Zacks. They now have a $44.00 price target on the stock. Zacks‘ analyst wrote, “AGCO reported 17.7% year-over-year decline in second-quarter 2014 earnings to $1.77 per share. However, it surpassed the Zacks Consensus Estimate. AGCO trimmed its full-year 2014 earnings per share to $5.00. Net sales guidance has also been slashed in the range of $10.1-$10.3 billion. The company expects third-quarter 2014 earnings per share in the range of $0.75 to $0.80. AGCO believes that the global industry demand will soften in 2014. We believe 2014 will be a challenging year for the company due to the expected decline in demand across most of its markets. Negative impact of lower volumes and weaker product mix will also remain matters of concern. Thus, we maintain our Underperform recommendation on AGCO with a target price of $44.”

Shares of AGCO Co. (NASDAQ:AGCO) opened at 48.12 on Tuesday. AGCO Co. has a 52-week low of $47.76 and a 52-week high of $64.60. The stock has a 50-day moving average of $53.67 and a 200-day moving average of $53.89. The company has a market cap of $4.518 billion and a price-to-earnings ratio of 8.83.

AGCO Corporation (NASDAQ:AGCO) is a manufacturer and distributor of agricultural equipment and related replacement parts globally.

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