FMC price target lowered to $17 from $33 at RBC Capital

RBC Capital analyst Arun Viswanathan lowered the firm’s price target on FMC (FMC) to $17 from $33 and keeps a Sector Perform rating on the shares. The stock has sold off sharply after the company lowered its Q4 guide by about 20% as Generics are pressuring price significantly in Latam, and while FMC announced portfolio actions to take out cost, this could indicate the company expects sluggish earnings growth for longer, the analyst tells investors in a research note.