Sales for Deere, Agco may fall with euro

05/6/2010 | Bloomberg Businessweek

If the euro continues its drop against the dollar, agricultural equipment sales for Deere and Agco could decline because of reduced farm cash receipts, says analyst Daniel Dowd. The rising dollar may reduce sales of machinery, such as tractors and combines, by making U.S. crop exports more expensive. However, Dowd says that the fundamentals of the agricultural market "remain intact" and he has an "outperform" rating on both companies.

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