AGCO Corporation (AGCO) - Bull of the Day
15 Maggio 2012 - 2:00AM
Zacks
We reiterate our Outperform recommendation on
AGCO
Corporation (AGCO) with a target price of $52. The company
reported first quarter 2012 earnings of $1.21 per share, exceeding
the Zacks Consensus Estimate of $0.86. Total revenues increased
26.5% to $2.27 billion, beating the Zacks Consensus Estimate of
$2.08 billion.
The acquisition of GSI will help to place the company in a new
market sector and extend its achievement in the agricultural
industry. Moreover, it plans to invest in new products to expand
its product line. In addition, its strategy of entering the
emerging markets of Russia, CIS, China and Africa is slated to
achieve significant growth.
Further, the demand for AGCO's products may increase as the U.S.
Department of Agriculture expects worldwide corn production to rise
10% to 946 million tons in 2012. We set a 6-month target price of
$52 per share, based on a P/E of 9.4x and our fiscal 2012 earnings
estimate.
AGCO CORP (AGCO): Free Stock Analysis Report
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