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Fly News Breaks for June 10, 2015
AGCO, DE
Jun 10, 2015 | 15:08 EDT
The USDA's June World Agricultural Supply and Demand Estimates, or WASDE, report, saw an estimated a 7% year-over-year crop cash flow drop, which Wells Fargo sees as negative for future high horsepower farm machine demand and agricultural equipment manufacturers. The firm maintained its Market Perform rating on Deere (DE) and Underperform rating on AGCO (AGCO).
News For DE;AGCO From the Last 2 Days
DE
Mar 13, 2024 | 16:17 EDT
Truist analyst Jamie Cook initiated coverage of Deere with a Buy rating and $494 price target. Deere is one of the best-run industrial machinery companies with a growing technology story and earnings stream, the analyst tells investors in a research note. The firm says the company continues to improve through-cycle margins, returns, and cash flow cycle over the cycle and "there is more opportunity ahead to outpace peers." It believes the 2024 farm equipment downturn will prove that Deere's earnings and margins are structurally higher and more resilient.