Agco price target raised to $117 from $110 at JPMorgan

JPMorgan raised the firm’s price target on Agco (AGCO) to $117 from $110 and keeps an Overweight rating on the shares. After meeting with management, the firm thinks the company’s Q1 beat and lower China tariffs leave “20 cents of buffer” to the current fiscal earnings guidance. The analyst continues to believe Agco’s retrofit strategy, the recovery in PTx Trimble, and advancements toward fully autonomous crop care solutions by 2030 put the company right behind Deere (DE) and ahead of CNH Industrial (CNH).