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    BofA cuts PT on some farm equipment makers

    Picture of CNH Industrial logoCNH Industrial
    14/04/2025 18:59
    ** BofA Global Research cuts PT on some farm equipment makers' shares including Deere DE.N, CNH Industrial CNH.N and AGCO AGCO.N

** Brokerage says it reduces estimates and PTs for agricultural equipment OEMs to "reflect a more cautious view of decrementals and the production cycle"

** Says it holds no "buy" ratings given concern that equipment purchasing is likely to remain constrained


    CompanyNew PTOld PTRating
    Deere$495$500"neutral"
    CNH$12.50$14"neutral"
    AGCO$87.50$100"neutral"
    

** Including session's moves, S&P 400 Agricultural & Farm Machinery sub index .SPMDCAGFM down 5.5% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))

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