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AGCO

Agco

$70.54

-2.67 (-3.65%)

, DE

Deere

$146.35

-9.7 (-6.22%)

06:32
05/14/19
05/14
06:32
05/14/19
06:32

Agco upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Ann Duignan upgraded Agco (AGCO) to Overweight from Neutral and raised her price target for the shares to $77 from $66. The analyst coupled the upgrade with a downgrade of Deere (DE) to Underweight from Neutral. Given Agco's limited exposure to the U.S. row crop sector, the recent sell-off in the shares is overdone, Duignan tells investors in a research note. She sees a good entry point at current share levels.

AGCO

Agco

$70.54

-2.67 (-3.65%)

DE

Deere

$146.35

-9.7 (-6.22%)

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AGCO Agco
$70.54

-2.67 (-3.65%)

05/14/19
JPMS
05/14/19
DOWNGRADE
Target $132
JPMS
Underweight
Deere downgraded to Underweight from Neutral at JPMorgan
JPMorgan analyst Ann Duignan downgraded Deere (DE) to Underweight from Neutral and lowered her price target for the shares to $132 from $154. The analyst coupled the downgrade with an upgrade of Agco (AGCO) to Overweight from Neutral. The analyst sees "rapidly deteriorating" fundamentals in U.S. agriculture. Beyond tariffs, Chinese import demand for soybeans is likely to decline significantly as it deals with a ~30% reduction in its hog herd following the outbreak of African swine fever, Duignan tells investors in a research note. Further, Brazil and Argentina combined have produced close to record soybean and corn crops this season, while U.S. dollar strength remains a headwind for U.S. competitiveness on the global market, adds the analyst. She sees a "perfect storm" for U.S. farmers and believes the fundamentals for Deere are now skewed to the downside.
05/07/19
RBCM
05/07/19
NO CHANGE
Target $86
RBCM
Outperform
Agco price target raised to $86 from $76 at RBC Capital
RBC Capital analyst Seth Weber raised his price target on Agco to $86 and kept his Outperform rating after the company's Q1 earnings beat last week as well as his meetings with its management. The analyst sees the stock among his "top ideas", saying its pure-play farm equipment status positions it well for a rebound in industry demand that is expected to materialize in 2020. Weber also anticipates market share gains and margin driving initiatives from Agco, raising his FY19 and FY20 EPS view by 25c and 15c to $4.95 and $5.75 respectively.
04/25/19
OTRG
04/25/19
DOWNGRADE
OTRG
Mixed
OTR Global lowers view on farm equipment manufacturers to Mixed from Positive
OTR Global lowered its view on farm equipment manufacturers, which includes Agco (AGCO), CNH Industrial (CNHI) and Deere (DE), to Mixed from Positive in January, noting that global farm equipment sales for 2019 are now expected to be up 1%-5% year-over-year, versus expectations of up 2%-5% in January.
03/25/19
RBCM
03/25/19
NO CHANGE
Target $76
RBCM
Outperform
Agco price target raised to $76 from $71 at RBC Capital
RBC Capital analyst Seth Weber raised his price target on Agco to $76 and kept his Outperform rating after meeting with its CFO Andy Beck and Investor Relations VP Greg Peterson. The analyst says the discussions reinforced his positive view of the company's "pure-play farm equipment exposure with significant margin runway", adding that its rising free cash also allows for it to take capital allocation opportunities.
DE Deere
$146.35

-9.7 (-6.22%)

05/13/19
05/13/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Deere (DE) and Titan Machinery (TITN) downgraded to Neutral from Outperform at Baird. 2. Boot Barn (BOOT) downgraded to Hold from Buy at Pivotal Research with analyst Mitch Kummetz saying he sees a less favorable risk/reward at current share levels heading into the company's results on May 16. He does not see enough room for upside to his estimates, mainly because he believes oil and gas employment is becoming a "diminishing tailwind." 3. Shopify (SHOP) downgraded to Neutral from Buy at Guggenheim with analyst Ken Wong saying he sees upside potential as limited given the stock's current valuation, which he notes has now passed previous peak levels. 4. ADT Inc. (ADT) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Toni Kaplan saying she has less confidence in the company's growth outlook following a recent AlphaWise survey conducted by the firm. 5. 51job (JOBS) downgraded to Neutral from Buy at Citi with analyst Alicia Yap saying she believes weakening operating metrics, such as a faster rate of decline for active employer count and slower rate of growth of ARPU, may be signals of challenges for online recruitment revenue growth. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
05/13/19
BARD
05/13/19
DOWNGRADE
BARD
Neutral
Baird downgrades Deere, Titan to Neutral on eroding farmer sentiment
As previously reported, Baird analyst Mig Dobre downgraded Deere (DE) and Titan Machinery (TITN), both to Neutral from Outperform, telling investors that large Ag equipment demand is increasingly at risk as farmer sentiment and grain prices deteriorate amid the drawn out trade war. While Ag inventories at dealers has risen, posing an additional risk, construction equipment growth is moderating, noted Dobre, who lowered his price target on Deere to $150 from $166 and cut his price target on Titan shares to $18 from $26.
05/13/19
BARD
05/13/19
DOWNGRADE
BARD
Neutral
Deere downgraded to Neutral from Outperform at Baird

TODAY'S FREE FLY STORIES

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NVS

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NVS

Novartis

$87.04

2.58 (3.05%)

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TIVO

TiVo

$6.87

0.04 (0.59%)

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VWAGY

Volkswagen

$0.00

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CNC

Centene

$56.30

0.85 (1.53%)

, WCG

WellCare

$267.57

-6.89 (-2.51%)

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CNC

Centene

$56.30

0.85 (1.53%)

WCG

WellCare

$267.57

-6.89 (-2.51%)

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SPY

SPDR S&P 500 ETF Trust

$282.86

0.67 (0.24%)

, IVV

iShares Core S&P 500

$284.83

0.69 (0.24%)

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IVV

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XLK

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0.33 (0.45%)

SMH

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SOXX

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0.06 (0.03%)

LQD

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EEM

iShares MSCI Emerging Markets ETF

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XLU

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$59.99

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XLV

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$89.56

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MSFT

Microsoft

$126.65

0.46 (0.36%)

, CCOEY

Capcom

$0.00

(0.00%)

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MSFT

Microsoft

$126.65

0.46 (0.36%)

CCOEY

Capcom

$0.00

(0.00%)

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NVS

Novartis

$86.93

2.47 (2.92%)

12:33
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CNC

Centene

$55.37

-0.08 (-0.14%)

, WCG

WellCare

$273.18

-1.28 (-0.47%)

12:33
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Periodicals
Third Point thinks Centene should consider sale before buying WellCare, WSJ says »

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CNC

Centene

$55.37

-0.08 (-0.14%)

WCG

WellCare

$273.18

-1.28 (-0.47%)

HUM

Humana

$262.97

3.1 (1.19%)

03/08/13
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NVS

Novartis

$86.95

2.49 (2.95%)

12:31
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Breaking Hot Stocks news story on Novartis »

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KNX

Knight-Swift

$29.75

-0.65 (-2.14%)

12:30
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WCG

WellCare

$273.55

-0.91 (-0.33%)

, CNC

Centene

$55.41

-0.04 (-0.07%)

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Periodicals
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$273.55

-0.91 (-0.33%)

CNC

Centene

$55.41

-0.04 (-0.07%)

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WCG

WellCare

$273.55

-0.91 (-0.33%)

, CNC

Centene

$55.41

-0.04 (-0.07%)

12:26
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Periodicals
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WCG

WellCare

$273.55

-0.91 (-0.33%)

CNC

Centene

$55.41

-0.04 (-0.07%)

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FLEX

Flex

$9.39

-0.08 (-0.84%)

12:25
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BA

Boeing

$357.37

6.8 (1.94%)

12:23
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SNA

Snap-On

$157.57

0.25 (0.16%)

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$NSD

NASDAQ Market Internals

$0.00

(0.00%)

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$NYE

NYSE Market Internals

$0.00

(0.00%)

12:16
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NYSE market internals summary »

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BA

Boeing

$358.20

7.63 (2.18%)

, SMI

SMIC

$5.18

-0.315 (-5.74%)

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Fly Intel: Wall Street's top stories at midday »

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BA

Boeing

$358.20

7.63 (2.18%)

SMI

SMIC

$5.18

-0.315 (-5.74%)

FL

Foot Locker

$44.14

-8.705 (-16.47%)

HPQ

HP Inc.

$20.06

0.865 (4.51%)

HPE

HP Enterprise

$14.64

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TSS

TSYS

$110.03

10.42 (10.46%)

GPN

Global Payments

$152.60

4.63 (3.13%)

HIBB

Hibbett Sports

$24.25

4.405 (22.20%)

DVAX

Dynavax

$5.33

-1.03 (-16.20%)

SPLK

Splunk

$117.39

-11.29 (-8.77%)

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ACHC

Acadia

$32.58

0.35 (1.09%)

12:13
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05/24
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12:13
Conference/Events
Acadia to hold a strategic update conference call »

Management provides an…

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BA

Boeing

$357.94

7.365 (2.10%)

12:12
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Hot Stocks
Breaking Hot Stocks news story on Boeing »

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BA

Boeing

$357.77

7.2 (2.05%)

12:12
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Periodicals
Breaking Periodicals news story on Boeing »

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SWKS

Skyworks

$69.32

0.77 (1.12%)

12:10
05/24/19
05/24
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Options
Call buyer loading up on Skyworks July 70s »

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TSS

TSYS

$109.69

10.08 (10.12%)

, GPN

Global Payments

$152.48

4.51 (3.05%)

12:09
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12:09
Periodicals
Global Payments near deal to acquire TSYS for $20B in stock, CNBC reports »

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TSS

TSYS

$109.69

10.08 (10.12%)

GPN

Global Payments

$152.48

4.51 (3.05%)

03/08/13
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