Barclays Maintains an 'Equalweight' on AGCO Corp (AGCO); Analyst Day Supportive of Relatively Solid Longer-Term Outlook

Barclays maintains an 'Equalweight' on AGCO Corporation (NYSE: AGCO) price target raised $1 to $59.

Barclays analyst says, "AGCO's initial 2012 guidance/outlook seems generally in-line to a bit better than our expectations and supportive of still solid global ag equipment markets. European ag markets seem to be holding up relatively well, although we sense some increased caution around the company's European outlook, which could temper growth expectations next year. South American ag equipment demand remains relatively solid, albeit down from prior peak levels and although growth in the region could be slow to pick-up (AGCO's outlook is flat for 2012), management seems comfortable that it can at least maintain if not grow its market share in South America next year despite evidence that Deere (NYSE: DE) is making successful inroads in the region."

Barclays raises FY11 EPS estimate from $4.25 to $4.30 and FY12 from $4.40 to $4.95.

For an analyst ratings summary and ratings history on AGCO Corporation click here. For more ratings news on AGCO Corporation click here.

Shares of AGCO Corporation closed at $40.31 yesterday.

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