AGCO (AGCO) Stock: $129 Target And Equal-Weight Rating

By Amit Chowdhry ● Jun 30, 2022
  • The shares of AGCO Corporation (NYSE: AGCO) have received a $129 price target from Morgan Stanley. These are the details.

The shares of AGCO Corporation (NYSE: AGCO) have received a $129 price target from Morgan Stanley. And Morgan Stanley analyst Dillon Cumming adjusted the rating on Agco to “Equal-Weight” from “Overweight.”

Cumming noted that the rating is largely driven by a reduction in exposure to the consumer complex, Europe, and a potentially peaking commodity backdrop – all of which are expected to moderate in a more draconian macro/recession scenario. While Cumming is not explicitly negative on the name, he sees fewer catalysts for estimated upsides in 2023.

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