UBS reiterated a Neutral rating and $119 price target on AGCO Corporation (NYSE:AGCO), citing a balanced risk-reward outlook as the agriculture machinery maker works through industry challenges.
The analysts said AGCO’s strategy to expand share in North America while holding positions in South America and Europe remained logical. Products such as FarmerCore could provide disruptive potential, though risks remained from tariffs and softer North American market recovery without a rebound in corn prices.
Progress on the Trimble partnership and cost reduction initiatives were seen as positives for margins. The $119 price target was based on a 15.5x P/E multiple applied to expected EPS of $7.70 for the second half of fiscal 2026 through the first half of fiscal 2027.
