As previously reported, Jefferies analyst Stephen Volkmann upgraded Agco (AGCO) to Buy from Hold, citing his view that shifting farm fundamentals support double-digit growth in both North America and South America for 2020. While still maintaining a conservative margin outlook, he thinks there is further upside from potentially higher margins as volumes build, added Volkmann, who raised his price target on Agco shares to $90 from $70. Volkmann also upgraded Deere (DE) to Buy from Hold this morning, citing what he sees as a tightened global crop supply demand balance following five years of depressed Large ag fundamentals.