CNH’s Q1 23 results were all about strong pricing accompanied by a surprising guidance upgrade and/but… investors’ increasing prudence on the approaching agricultural cycle turnaround. The management is comfortable with the precision Ag development set-up built in the recent quarters implying a slowdown in external growth. “Normalization” was the key word on the conference call, prompting uncertainties as to what is the new normal? And whether the downward trend will stop at so-called normal lev ....
