Agco price target lowered to $133 from $145 at Oppenheimer

Oppenheimer lowered the firm’s price target on Agco to $133 from $145 and keeps an Outperform rating on the shares. Heading into Agco’s June 27th Tech Day, investors are focused on early integration opportunities for PTx, and the product lineup sustaining technology penetration through the current down-cycle. The firm believes the breadth of PTx solutions may surprise, as it expects Agco to showcase complementary technologies across the crop cycle. Oppenheimer views Agco as one of the best values in the Ag space.