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Fly News Breaks for January 17, 2020
Jan 17, 2020 | 08:42 EDT
Stephens analyst Ashish Gupta noted that Bloomberg reported comments from USDA Agriculture Secretary Sonny Perdue indicating his expectation that the third tranche of the 2019 Market Facilitation Program, or MFP, will be made to farmers following the signing of the U.S.-China trade deal. U.S. farmers received $11 billion of MFP benefits in 2019 and and "it is hard to see" the bailouts going away in an election year, said Gupta, who believes the expectation for a 2020 MFP program is embedded in Deere shares. Gupta keeps an Equal Weight rating on Deere shares with a $160 price target.
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