Tiger Brokers

BUZZ-Citi expects US core machinery markets to bottom in 2025

Reuters
Dec 09, 2024

** Citi Research expects U.S. core machinery markets - including truck, agricultural and construction - to likely bottom in 2025

** Brokerage says caution is warranted heading into 2025 citing moderating inflation

** "We view Trump's second term as more supportive of capex and machinery demand and prices" - brokerage

** Citi expects 2025 to a "big down year" for agricultural equipment; assumes slight demand recovery and sees potential for re-stock in 2026

** Sees global unit sales of construction equipment to bottom in 2025 due to material weakness in China and Europe

** Brokerage picks some U.S. machinery stocks such as CNH Industrial , Caterpillar , Cummins and PACCAR as top picks

** Up to last close, S&P 500 Machinery index up 24.20% YTD

(Reporting by Anshuman Tripathy)

((Anshuman.Tripathy@thomsonreuters.com))

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