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Our Industrials research team led by Jay Van Sciver is hosting a call on Thursday, May 9 @ 2:00pm ET. If you'd like access to the call (or simply want to receive/learn more about Van Sciver's research) click here. |
Thursday @ 2pm | DE & CF Short | What’s Next For Policy, Macro, and Farms? | AGCO, LNN, NTR
With inflation reaccelerating, a farm bill brewing in Congress, and ongoing energy policy decisions, we want to review our Ag bear thesis in light of a difficult earnings season and somewhat lower expectations for the group. We’ll invite our excellent new Energy Sector Head, Fernando Valle, to join us for a review of the outlook for biofuels in the US and abroad.
It is our view that US large Ag is primarily driven by biofuel demand, with an associated land value bubble at its core.
As DE and other Ag equipment companies come off of multi-decade high in margins, we see significant downside risks to their equity valuations…in a pattern that may rhyme with the 1980s Ag downturn. We’ll review these topics, and more, in a black book presentation this Thursday, May 9th at 2PM ET.
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