** Citigroup cuts PT on Deere & Co to $410 from $420, AGCO Corp to $95 from $100, and CNH Industrial to $13 from $15
** "We have lowered estimates across the board, with most notable downward revisions to 2025 as the grain price outlook and dealer inventory situation is challenging heading into the year" - brokerage
** Says farmers' appetite for expenditure on equipment to be affected by lower price expectation for grain
** Adds that agricultural equipment manufacturers anticipate having to under produce retail demand at least through the first half of 2025
** As of last close, the S&P 500 Agricultural & Farm Machinery sub-index had fallen 1.3% YTD
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))
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