BUZZ-AGCO rises after Citi upgrades to 'buy'

Reuters
08 Apr
BUZZ-AGCO rises after Citi upgrades to 'buy'

** Agricultural equipment maker AGCO's shares AGCO.N rise 2.6% to $80.33

** Brokerage Citi Research upgrades company's shares to "buy" from "neutral", PT unchanged at $90

** Brokerage views AGCO to be favorably positioned due to its ~65% exposure to Europe and South America, which are expected to recover ahead of North America

** Brokerage sees upside to company's PTX business, which is expected to outgrow the market due to resilience of precision retrofit technology

** AGCO's PTX business includes advanced farming systems, precision farming software, and other related products and services

** Brokerage flags risk for the agricultural sector as a whole due to U.S. President Donald Trump's tariffs and its effects on farmers due to retaliatory tariffs on key export products such as soybean and corn

** 4 of 16 brokerages rate the stock "buy" or higher, 11 "hold", 1 "sell"; median PT $99.5, according to LSEG data

** Including session's moves, AGCO stock down 13.7% YTD

(Reporting by Padmanabhan Ananthan)

((Padmanabhan.Ananthan@thomsonreuters.com))

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