UPDATE: Goldman Sachs Reiterates Neutral Rating, Raises PT on FMC Corporation
In a report published Wednesday, Goldman Sachs Group reiterated its Neutral rating on FMC Corporation (NYSE: FMC), and slightly raised its price target from $59.00 to $60.00.
Goldman Sachs noted, “2013 EPS growth guidance is consistent with our/Street prior estimates, which implied 15% growth, although it appears to be more weighted towards Ag and less towards Industrial than we previously modeled and we adjust our estimate accordingly. Vision 2015 targets seem most aggressive to us at the Industrial segment, which assumes a rebound in soda ash prices from 2012/13 levels as well as successful mix improvement. While the Industrial EBIT target may prove high, Ag and Specialty targets seem achievable to us, and the growth shift away from M&A is positive, in our opinion.”
FMC Corporation closed on Tuesday at $54.21.
Latest Ratings for FMC
|Aug 2014||Edward Jones||Upgrades||Hold||Buy|
|Jul 2014||JP Morgan||Maintains||Overweight|
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.