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Fly News Breaks for May 8, 2018
AGCO
May 8, 2018 | 06:51 EDT
Goldman Sachs analyst Jerry Revich removed Agco from the Americas Conviction List, stating that while he remains bullish on a normalization in ag machinery share of farmer capex, he underestimated the company's challenge in transitioning to a tier 3 product lineup in South America. The product transition challenges drive a 25c negative revision to mid-cycle EPS forecasts, Revich noted. He lowered his price target on Agco shares to $80 from $90.
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