Deere (NYSE:DE), AGCO (NYSE:AGCO), CNH (NYSE:CNH) Up on Bullish Farm Equipment Outlook

With the price of crops pushing revenue and earnings up for farmers, farm equipment producers like Deere & Company (NYSE:DE), AGCO (NYSE:AGCO) and CNH Global NV (NYSE:CNH) are in favor with analysts, and UBS (NYSE:UBS) raised their ratings and/or price target on the companies.

This is centered around the probably assumption farmers will add newer equipment over the next year because of more cash on hand.

Deere & Company is the top play in the sector for UBS, which raised them from "Neutral" to "Buy." AGCO (NYSE:AGCO) was upgraded from "Sell to "Neutral." CNH Global NV had their price target raised by UBS on them, along with the others.

UBS said, "While farmers bought some equipment ahead of 2011 Tier 4 engine [emissions] standards, dealers generally believed sales could be 10% higher in 2011 given strong farmer confidence due to high commodity prices."

Deere was trading at $77.60, gaining $0.32, or 0.41 percent at 1:55 PM EST. AGCO was at $47.13, rising by $1.33, or 2.90 percent. CNH 44.11 was at $44.11, increasing by $1.39, or 3.25 percent at 1:56 PM EST.