AGCO downgraded to Underperform from Neutral at Macquarie Macquarie downgraded AGCO to Underperform based on weakening demand and excess inventory that will pressure revenues. Price target lowered to $44 from $50.
USDA data still negative for Ag equipment makers, says Wells Fargo Wells Fargo estimates USDA data for December indicates row crop cash flow will drop 21% from the prior year, which is consistent with November and still negative for farm equipment demand. The firm keeps its negative view on demand trends for farm equipment makers Deere (DE) and AGCO (AGCO). The firm maintains its Underperform rating on AGCO and Market Perform rating on Deere.