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Ag Growth International Upgraded to Outperform at RBC

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Ag Growth International Inc. (AFN.TO) was upgraded to Outperform from Sector Perform at RBC Capital Markets.

Analyst Andrew D. Wong raised his price target on shares of the Winnipeg, Manitoba-based farm machinery and equipment company to $30 from $20.

"We are encouraged by early signs of operational improvement under new management and believe better execution should lead to a re-rate in shares," Wong said in a note to clients.

"We think management has done well to improve cash conversion, reduce costs, and simplify the business while focusing on de-leveraging," the analyst said.

"We also believe North American Farm market conditions have likely bottomed and could improve in the next 6-12 months, driving improved earnings into 2027."

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