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    1. AGCO Reports Third-quarter Results; We Believe This Industrial Best Idea Remains Undervalued


      Tue, 28 Oct 2014

      Following AGCO ’s third-quarter results, we are maintaining ..... fair value estimate and no-moat rating. AGCO negatively revised its earnings outlook three ..... We remain comfortable at the low end of AGCO ’s outlook. We acknowledge that the 2014

    2. Lowering CNH's Fair Value Estimate on Weak Second-Half Agricultural Sales


      Tue, 7 Oct 2014

      Industrial's agricultural competitor AGCO reduced its sales and earnings outlook ..... 2014 sales headwinds are not unique to AGCO and have probably affected the competition ..... market's longer-term growth, we think AGCO 's low leverage and valuation are compelling

    3. Modestly Lowering AGCO's Fair Value Estimate on Weak Second-Half Sales


      Tue, 7 Oct 2014

      are lowering our fair value estimate for AGCO to $55 per share from $57 to reflect ..... but our no-moat rating is unchanged. AGCO reduced its full-year earnings per share ..... sales in all regions. We recently added AGCO to our Best Ideas list. Although the long

    4. Industrials: Pockets of Value in Automotive


      Wed, 1 Oct 2014

      equipment manufacturers; we mention farming equipment builder AGCO AGCO below, but CNH Industrial CNHI and lift manufacturer Terex ..... Estimate Economic Moat Fair Value Uncertainty Consider Buying AGCO $57.00 None High $34.20 Fiat Group SpA $19.00

    5. From Barron’s, September 29, 2014 (Part 2)


      Sat, 27 Sep 2014

      on Monday; pg 20]; Apple [ AAPL ; pg 20]. Bearish stories: Theravance [ THRX ; pg 14]; agricultural sector [machinery AGCO , CNHI, DE ; fertilizer AGU, CF, MOS, POT ; seeds/chemicals MON, SYT ; ag-tech TRMB ; ag-commodities/grains have

    6. Big companies pay small share of taxes


      Mon, 22 Sep 2014

      tax earnings. Coca-Cola said 80 percent of its business is overseas, which accounts for most of its profits and taxes. • AGCO Corp. paid no federal income taxes for five out of the last six years, even though it reported $2.9 billion in worldwide

    7. Noted Manager Stays Off the Beaten Path With New Global Fund


      Sun, 31 Aug 2014

      natural resources. In 2006, the fund gained 25.1%, more than 11 percentage points ahead of the mid-blend category. AGCO AGCO , Bema Gold, Lihir Gold, and Maxtor were among the fund's top performers that year. While the fund's early performance

    8. U.S. Farming Remains Challenging; AGCO's Outlook Rests on Acquisitions and Non-U.S. Growth


      Thu, 28 Aug 2014

      suppliers reported only 30-60 days ago. We were already modeling a weak 2014 and 2015 outlook so we remain comfortable with AGCO ’s current $57 fair value estimate and no-moat rating. The 2011 GSI acquisition and the 2014 Intersystems acquisitions

    9. AGCO ’s Second-Quarter Earnings Report Highlights Weak Global Agriculture Market


      Tue, 29 Jul 2014

      In its second-quarter report, AGCO reported a 10% year-over-year sales ..... latest business update, but we still think AGCO can deliver 4%-5% revenue growth in ..... our reduced 2014 estimates and leaving AGCO with a no-moat rating. Sales declines

    10. Inflation Is Our Friend: Huh?


      Thu, 3 Jul 2014

      AGCO stands poised to benefit from South America's agriculture revival.

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