Credit Suisse upgraded FMC Corporation to Neutral from Underperform with an unchanged price target of $101. The stock is down 25% year-to-date and the company’s recent results have been under pressure due to significant inventory destocking by customers that have resulted in a sharp decline in earnings in 2023, the analyst tells investors in a research note. However, the firm believes many of these issues are likely to be transitory and unlikely to repeat next year. As such, it now sees FMC’s risk/reward as fairly balanced.
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Read More on FMC:
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