Jim Cramer Highlights AGCO as a Beneficiary of US-China Deal

AGCO Corporation (NYSE:AGCO) is one of the latest stocks on Jim Cramer’s radar. During the episode, Cramer discussed the company in light of the US government’s deal with China, as he commented:

“Last week, our government and China reached a deal that, among other things, has Chinese buying American soybeans again. That’s basically where we were before the trade war. But regardless, it’s a win for the companies that make farm equipment like AGCO. Now, when AGCO reported last Friday, the company delivered a small top-line beat and a healthy bottom-line beat. Management raising their full-year earnings forecast and rolling out a $300 million buyback. Still, it wasn’t enough to get the stock rallying. Shares actually dropped nearly 3% on Friday.”

AGCO Corporation (NYSE:AGCO) designs and sells agricultural equipment and replacement parts, including tractors, combines, seeding and tillage tools, and grain storage systems. Its brands include Fendt, Massey Ferguson, PTx, and Valtra.

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