Morgan Stanley lowered the firm’s price target on FMC Corporation to $110 from $145 and keeps an Overweight rating on the shares after the company’s warning proved its is susceptible to the widespread destocking plaguing the broader chemicals industry. However, with the stock now down 26% year-to-date, the firm views the risk/reward as “attractive versus what we see as priced into the stock,” the analyst tells investors.
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Read More on FMC:
- FMC Corporation price target lowered to $105 from $135 at RBC Capital
- FMC Corporation price target lowered to $120 from $145 at BMO Capital
- FMC Corporation price target lowered to $118 from $148 at Loop Capital
- FMC Corporation price target lowered to $101 from $120 at Credit Suisse
- FMC Corporation price target lowered to $127 from $147 at Mizuho