Agco price target raised to $108 from $106 at Oppenheimer

Oppenheimer raised the firm’s price target on Agco (AGCO) to $108 from $106 and keeps an Outperform rating on the shares. The firm notes shares closed +10.1% Thursday after delivering a solid Q1 beat enabling it to maintain its FY25 outlook, while accounting for tariff scenarios. The guide embeds a number of moving pieces, with tailwinds from the Q1 beat, and better F/X and pricing. Offsetting, a softer NorAm outlook now sees regional destocking extending into Q3, Oppenheimer adds.