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Fly News Breaks for December 4, 2019
AGCO
Dec 4, 2019 | 09:27 EDT
Stephens analyst Ashish Gupta said he is expecting a cautious tone and "relatively flat" 2020 sales and adjusted EPS outlook from Agco when the company hosts its analyst meeting on December 13. While he has lowered his 2020 earnings outlook to account for foreign exchange impacts and revenue "fine-tuning," he likes the setup for Agco and expects guidance to move higher through 2020, leading Gupta to recommend being a buyer on any post-analyst day weakness. He keeps an Overweight rating and $88 price target on Agco shares.
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