** CNH Industrial CNH.N shares rise 3.5% to $10.4 premarket
** Greenlight Capital's David Einhorn speaking at a CNBC conference said he has taken a long position in the company
** The hedge fund investor said the agriculture equipment maker is an under-the-radar value play as the industry nears the end of a bearish cycle
** CNH shares, which have fallen 17.5% YTD, rose ~7% in after hours trade on Wednesday
** Co last week lowered its FY profit forecast and said it will continue to under-produce equipment moving into 2025, as dealer inventories remain elevated
** But added that it does expect 2025 to see the bottom of the cycle
** "CNH shares trade at a discount to peers that is inconsistent with its relative market share and margin profile, in our view," analysts at Oppenheimer said
** "While unclear if the position would result in an activist type of engagement, we believe the high profile investment is likely to raise the specter of a strategic engagement," they added.
** 11 of 21 brokerages rate the stock "buy" or higher and 10 "hold"; their median PT is $13
(Reporting by Abhinav Parmar in Bengaluru)
((Abhinav.parmar@thomsonreuters.com))
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