AGCO Corporation (AGCO) PT Raised to $110 at Citi

Citi analyst Kyle Menges raised the price target on AGCO Corporation (NYSE: AGCO) to $110.00 (from $90.00) while maintaining a Buy rating.

The analyst comments "We have updated our model following AGCO’s 1Q results, raising our 2025E adj. EPS to $4.15 from $4.05, cuing off company guidance and flowing through tariff impacts and the 1Q beat. While tariffs are expected to weigh on earnings in the near term, we have increased confidence in AGCO’s ability to hit numbers in 2025 and return to growth in 2026. We view AGCO as well-positioned to benefit from a likely recovery in Europe and SA, which we see gaining momentum in 2H25. We also think a combination of mitigation actions and likely easing of tariff rates should result in minimization of tariff impacts on AGCO over time. Lastly, we view the possibility of a US-EU trade deal and/or AGCO resolution with TAFE as potential upside catalysts for AGCO shares. We raise our price target to $110 from $90 on slightly higher estimates and a higher multiple. Maintain Buy."

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