AGCO Corporation (AGCO) PT Raised to $124 at Oppenheimer

Oppenheimer analyst Kristen Owen raised the price target on AGCO Corporation (NYSE: AGCO) to $124.00 (from $115.00) while maintaining a Outperform rating.

The analyst commented: "AGCO shares closed +10.6% on Thursday (vs. SP500 down 40bps) after a beat-and-raise 2Q fueled by F/X and healthy EME operating margin resiliency. While we weren't surprised by the 2Q results and 3Q guide beat, the trough confirmation signal and subsequent share response was ahead of our expectations, particularly in light of the dampened outlook in NorAm and Western Europe. With the primary cycle debate focused on NorAm, it's noteworthy that we see a path for AGCO to grow EPS in 2026 without a NorAm earnings contribution (production comps, EME and LatAm leverage). While positive on the print and trough positioning, we are lifting our price target minimally, from $115 to $124, to account for our expectation of volatility into 3Q/harvest amid the debate around 2026 demand."

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