BUZZ-BofA cuts PT on some farm equipment makers

Reuters2025-04-15

** 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

Company	New PT	Old PT	Rating
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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