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FMC downgraded to Equal Weight from Overweight at Wells Fargo

Wells Fargo downgraded FMC (FMC) to Equal Weight from Overweight with a price target of $16, down from $41, following the Q3 report. The firm cites the company’s increased earnings uncertainty into 2026, “weak” near-term free cash flow, and high leverage for the downgrade. The post-earnings share selloff was warranted given the “significant number of uncertainties? in the trajectory of FMC’s earnings from here, the analyst tells investors in a research note.

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