AGCO Corporation (AGCO) PT Raised to $100 at Citi

Citi analyst Kyle Menges raised the price target on AGCO Corporation (NYSE: AGCO) to $100.00 (from $88.00) while maintaining a Neutral rating.

The analyst comments "Maintain Neutral — We increase our AGCO target price to $100 from $88 on a higher multiple, based on lower discount rates and our view that 2025 is likely the trough for AGCO’s EPS this cycle. We maintain our Neutral rating on AGCO shares. While we think Europe (AGCO’s largest market) is close to bottoming, we prefer to remain on the sidelines until we get more clarity on what AGCO’s through-cycle margins could look like, and more comfort with the PTx Trimble integration / PTx margins."

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