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Fly News Breaks for September 1, 2017
AGCO
Sep 1, 2017 | 07:59 EDT
After investor meetings with management, Wells Fargo analyst Andrew Casey has a better appreciation for the company's longer-term growth potential. Amid weakened investor sentiment on equipment manufacturers due to commodity price weakness, the analyst says he does not see much earnings power downside risk for Agco. The impact of low commodity prices will likely not last forever, and Agco's earnings power could jump to $8-$9 by about 2021, Casey tells investors in a research note. He maintains an Outperform rating on the shares with an $83 price target.
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