RBC Capital lowered the firm’s price target on FMC Corporation to $105 from $135 after its negative Q2 pre-announcement and guidance cut but keeps an Outperform rating on the shares. Despite the abrupt reduction in channel inventories, FMC notes that on-the-ground consumption remains strong and similar to last year’s levels, with high input costs also “mitigating” toward a “significant benefit” expected for the second half of the year, the analyst tells investors in a research note.
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