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Fly News Breaks for October 2, 2015
AGCO
Oct 2, 2015 | 08:21 EDT
As previously reported, BofA/Merrill downgraded AGCO to Underperform from Neutral and a $38 price target. Ross Gilardl the ag equipment sector is in the early stages of a downturn and earnings could move lower in 2016. Gilardi said the further decline in commodity prices will negatively impact farmland value and demand for equipment, and does not view AGCO as a takeover target near-term.
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