 Deutsche Bank analyst Nicole Deblase downgraded AGCO Corp NYSE:AGCO to Hold from Buy and lowered the price target to 124 an upside of 3.2, from 144. While 2022 is setting up to be another strong year for the agriculture equipment industry amid record order boards and supply-chain driven production recovery delays, we have a hard time disputing why this may not be representative of peak demand, Deblase notes. 