Agco price target lowered to $111 from $131 at Oppenheimer

Oppenheimer lowered the firm’s price target on Agco (AGCO) to $111 from $131 and keeps an Outperform rating on the shares. The firm notes shares were off 7.8% Tuesday as the company delivered a Q3 miss and lowered its FY24 outlook. Europe was the primary culprit, a stark contrast to year-to-date results, Oppenheimer adds.