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Fly News Breaks for August 13, 2018
AGCO, ETN
Aug 13, 2018 | 07:40 EDT
JPMorgan analyst Ann Duignan upgraded Eaton (ETN) to Overweight and raised her price target for the shares to $92 from $85. The company's mix of Electrical business is leveraged to later cycle end markets that are accelerating, Duignan tells investors in a research note. Further, she views the stock's valuation as compelling at current levels. Duignan coupled the upgrade of Eaton with a downgrade of Agco (AGCO) to Underweight from Neutral. The analyst sees deteriorating fundamentals for Agco with the German wheat crop expected to be down over 20% this season.
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