Agco price target lowered to $127 from $136 at JPMorgan

JPMorgan lowered the firm’s price target on Agco (AGCO) to $127 from $136 and keeps an Overweight rating on the shares. The firm updated the company’s model following Deere’s earnings report. Agco is the only one of the three agriculture manufacturers that could see flattish earnings next year given over half of its revenues come from Europe and the Middle East while both Deere (DE) and CNH Industrial (CNHI) should see declines, the analyst tells investors in a research note.