Agco price target raised to $189 from $185 at Baird

Baird analyst Mircea Dobre raised the firm’s price target on Agco to $189 from $185 and keeps an Outperform rating on the shares. The company posted a strong earnings beat as supply chain improvement allowed for higher shipments to drive top and bottom-line beats, and the management’s order commentary was positive across regions, the analyst tells investors in a research note. The stock also offers attractive valuation, good execution, and strong farm fundamentals, the firm adds.