There's a column out there called "bull of the day". It references companies that might be good purchases. Interesting that AGCO just made it?! Reichhagen is definitely stubborn like a bull, not sure if AGCO is going to be the that good of an investment. In any event I thought it might be a good conversation piece on the board. Enjoy....
Driven by strong global demand for agricultural equipment, AGCO Corporation (NYSE: AGCO) reported third quarter EPS of $0.87 versus $0.66 in the year-earlier quarter, surpassing the Zacks Consensus Estimate of $0.75. For fiscal 2011, AGCO expects EPS of $4.30.
Global industry sales are anticipated to grow in 2011. With a full product line of farm equipment and a wide network of dealers and distributors, we believe AGCO is well positioned over the long term to capitalize on the need for increased food production, which is being driven by worldwide population growth.
Moreover, the company is also looking to expand operations in high-growth emerging markets, which bode well for future operating performance. We maintain our Outperform recommendation with a target price of $51.00, based on a P/E of 11.7 and our fiscal 2011 earnings estimate.
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