December 11, 2012 / 3:06 PM / 5 years ago

AGCO sees 2013 EPS in range mostly above Street's expectations

(Reuters) - Farming equipment maker AGCO Corp (AGCO.N) 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 (DE.N), expects 2013 earnings per share of $5.50 to $5.75 per share.

    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.

    Reporting By Ernest Scheyder; Editing by Gerald E. McCormick

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