Jim Cramer on AGCO: I’m Wondering If it Might Have Even More Upside”

AGCO Corporation (NYSE:AGCO) is one of the stocks Jim Cramer shed light on. During the episode, Cramer highlighted the stock’s rebound from April lows. He commented:

“What’s happening at AGCO, the big maker of agricultural equipment and precision ag technology? Quietly, over the past few months, this stock has rebounded from its April lows, and I’m wondering if it might have even more upside. When AGCO reported at the end of July, it delivered a much better-than-expected series of numbers.

Even though it’s still looking at steep year-over-year sales declines, it didn’t matter. What matters is that it’s beating expectations. It delivered a 27-cent earnings beat off a dollar-o-eight ($1.08) basis while also raising its full-year forecast, which is why the stock jumped more than 10% in response. While it’s pulled back a bit since then, it’s up 55% since its April lows.”

Photo by Yiorgos Ntrahas on Unsplash

AGCO Corporation (NYSE:AGCO) manufactures agricultural equipment, including tractors, harvesters, and application machinery. The company also provides grain storage systems, animal housing equipment, and replacement parts.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.