In a major development, CNH Industrial N.V. (CNHI - Free Report) has collaborated with seven companies to develop ConectarAGRO, with the intention to bring open connectivity solutions to all of Brazil’s agricultural regions.
This initiative will enable Brazil’s rural producers to take advantage of precision farming, and digital and automated technological resources. Also, this will provide access to a range of new products and services enabled by connectivity, which will in turn result in business optimization.
CNH Industrial collaborated with AGCO, Bayer, Jacto, Nokia, Solinftec, TIM and Trimble. The combination of these diverse and competent companies created the environment for understanding the connectivity issue faced by the Brazil agricultural sector in a better way. This also sets up the ideal platform for finding solutions and improving domestic agribusinesses.
ConectarAGRO initiative offers uniform and open technologies, thereby ensuring more freedom and flexibility for farmers. This program will bring people, equipment and other devices under a single platform. In other words, ConectarAGRO will be vital for augmenting the productivity and competitiveness of Brazil’s agribusinesses.
Shares of CNH Industrial have outperformed the industry it belongs to in the past three months. Over this time frame, it has gained 10% against the industry’s decline of 2.6%.
Zacks Rank & Stocks to Consider
Currently CNH Industrial carries a Zacks Rank #5 (Strong Sell).
A few better-ranked stocks in the broader auto sector are Geely Automobile Holdings Ltd. (GELYY - Free Report) , Ferrari N.V. (RACE - Free Report) and Fox Factory Holding Corp. (FOXF - Free Report) . While Geely and Ferrari currently sport a Zacks Rank #1 (Strong Buy), Fox Factory carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Geely’ long-term growth rate is projected at 7%. Over the past three months, shares of the company have gained 35.3%.
Ferrari has an expected long-term growth rate of 18.5%. Shares of the company have gained 21.9% over the past three months.
Fox Factory has an expected long-term growth rate of 15.1%. Shares of the company have gained 23.6% over the past three months.
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