BMO Starts DE, TEX, ITW, AGCO, PCAR at Outperform, CAT, CMI, PH, KMT, MIDD at Market Perform, NAV at Underperform

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BMO Capital's Joel Tiss initiated coverage on a number of stocks in the Capital Goods sector Friday morning:

• Deere (NYSE: DE) with an Outperform rating and $89 price target
  
• Terex (NYSE: TEX) with an Outperform rating and $26 price target
  
• Illinois Tool Works (NYSE: ITW) with an Outperform rating and $62 price target
  
• AGCO (Nasdaq: AGCO) with an Outperform rating and $53 price target
  
• Paccar (Nasdaq: PCAR) with an Outperform rating and $50 price target
  
• Caterpillar (NYSE: CAT) with a Market Perform rating and a $92 price target
  
• Cummins (NYSE: CMI) with a Market Perform rating and a $100 price target
  
• Parker-Hannifin (NYSE: PH) with a Market Perform rating and a $80 price target
  
• Kennametal (NYSE: KMT) with a Market Perform rating and a $37 price target
  
• Middleby (Nasdaq: MIDD) with a Market Perform rating and a $95 price target
  
• Navistar (NYSE: NAV) with an Underperform rating and a $20 price target

In addition, Tiss downgraded shares of Joy Global from Outperform to Underperform this morning.

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