Agco named short-term sell idea at Deutsche Bank

Deutsche Bank analyst Nicole Deblase placed a “Catalyst Call: Sell” on shares of Agco as a short-term investment idea ahead of the Q1 earnings release. After Deere unexpectedly cut its fiscal 2024 guidance, it became apparent that there is likely downside to Agco’s outlook, most notably due to elevated dealer inventory levels in Europe and South America, the analyst tells investors in a research note.