AGCO rises after Citi upgrades to 'buy'

Agricultural equipment maker AGCO's shares AGCO.N rise 2.6% to $80.33

Brokerage Citi Research upgrades company's shares to "buy" from "neutral", PT unchanged at $90

Brokerage views AGCO to be favorably positioned due to its ~65% exposure to Europe and South America, which are expected to recover ahead of North America

Brokerage sees upside to company's PTX business, which is expected to outgrow the market due to resilience of precision retrofit technology

AGCO's PTX business includes advanced farming systems, precision farming software, and other related products and services

Brokerage flags risk for the agricultural sector as a whole due to U.S. President Donald Trump's tariffs and its effects on farmers due to retaliatory tariffs on key export products such as soybean and corn

4 of 16 brokerages rate the stock "buy" or higher, 11 "hold", 1 "sell"; median PT $99.5, according to LSEG data

Including session's moves, AGCO stock down 13.7% YTD