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Fly News Breaks for May 20, 2019
AGCO
May 20, 2019 | 08:03 EDT
BofA/Merrill analyst Ross Gilardi downgraded Agco (AGCO) to Underperform from Neutral following disappointing earnings from Deere (DE). The analyst expects Agco to give back some its year-to-date outperformance due to Brazilian competition and potential second half 2019 cuts in US production, similar to Deere.
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