** BofA Global Research cuts PT on some farm equipment makers' shares including Deere DE.N, CNH Industrial CNH.N and AGCO AGCO.N
** Brokerage says it reduces estimates and PTs for agricultural equipment OEMs to "reflect a more cautious view of decrementals and the production cycle"
** Says it holds no "buy" ratings given concern that equipment purchasing is likely to remain constrained
Company | New PT | Old PT | Rating |
Deere | $495 | $500 | "neutral" |
CNH | $12.50 | $14 | "neutral" |
AGCO | $87.50 | $100 | "neutral" |
** Including session's moves, S&P 400 Agricultural & Farm Machinery sub index .SPMDCAGFM down 5.5% YTD
(Reporting by Anshuman Tripathy)
((Anshuman.Tripathy@thomsonreuters.com))
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