Bernstein analyst Chad Dillard raised the firm’s price target on Agco to $135 from $122 and keeps a Market Perform rating on the shares. The firm notes Agco reported Q1 results Tuesday morning, posting adjusting EPS of $3.51, a 30% beat to consensus from more favorable pricing and an improved mix. The company also raised their full-year sales and EPS outlook from $14B to $14.5B and $13.50 to $14.40, respectively. Bernstein believes renewed guidance is conservative.
Published first on TheFly
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