Dec 11 Farming equipment maker AGCO Corp
forecast a 2013 profit mostly above Wall Street's
expectations, citing growing sales in South America.
The company, which competes fiercely with rival Deere & Co
, expects 2013 earnings per share of $5.50 to $5.75 per
Analysts on Wall Street have expected earnings of $5.56 per
share for 2013, according to Thomson Reuters I/B/E/S.
The company expects sales to grow 3 percent to 5 percent in
2013 from 2012 levels.
Shares of AGCO rose 2.7 percent to $47.79 after the forecast
was announced at the company's annual investor day in New York.