Stifel analyst Stanley Elliott lowered the firm’s price target on Agco to $165 from $169 and keeps a Buy rating on the shares. First quarter results were above expectations, with supply chains generally improved, the analyst tells investors. Stifel continues to be positive on the shares and is pleased with the progress on smart spray, which is expected to commercialize next year. Further, the firm believes this technological development is important as the company targets a higher portion of farmer budgets.
Published first on TheFly
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