Investing US Agriculture - AGCO Corporation
Rising demand in U.S. crops due to drought in Russia generated $70 billion in export for the first 8 months of 2010. And one of the group that benefits a lot from this is the farm equipment maker. So far we've looked at Deere and Company,and CNH Global, today lets take a look at another one - AGCO Corporation (NYSE:AGCO).
Since reaching 52 weeks low of $25.48 in June, shares of AGCO have doubled in just six months to $50.79 recently. The technical chart shows bullish trend as both 50 day and 200 day moving average are going up and KD lines are going up as well. Although revenue has not improved much this year net income has improved dramatically in the past two quarters. With strong sales expected the stock should continue to go up.
Since reaching 52 weeks low of $25.48 in June, shares of AGCO have doubled in just six months to $50.79 recently. The technical chart shows bullish trend as both 50 day and 200 day moving average are going up and KD lines are going up as well. Although revenue has not improved much this year net income has improved dramatically in the past two quarters. With strong sales expected the stock should continue to go up.
posted by Stock Geek at
8:47 AM
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