DA Davidson starts Agco at Buy, sees US trends turning positive

DA Davidson initiated coverage of Agco with a Buy rating and $160 price target. The firm believes that there are multiple ways where U.S. trends can finally turn positive from here and also noting that the company's earnings leverage may be quite high, the analyst tells investors in a research note. North America appears to be at bottom by several key metrics, and Agco appears poised to outperform when the market recovers, DA Davidson added.