Market Overview

Bank of America Reiterates Neutral Rating, $61 PT on FMC Corporation on Estimate Change

Share:
Related FMC
50+ Business Leaders To Endorse Hillary Clinton
Lithium ETF Easily Outshines Tesla, But That Shouldn't Be Surprising
Lithium in focus with Gigafactory event on tap (Seeking Alpha)

In a report published Friday, Bank of America reiterated its Neutral rating and $61.00 price target on FMC Corporation (NYSE: FMC).

Bank of America noted, “FMC is tracking well against its Vision 2015 plan and should continue to benefit from: (1) healthy demand for crop protection chemicals at attractive margins, (2) good potential for long-term demand growth in lithium and biopolymers, (3) spare, lowcost soda ash capacity, albeit with risk to selling prices overseas, and (4) insulation from volatility in petrochemical raw material costs. However, we view valuation as fair, and do not see an incremental positive catalyst at this juncture.”

FMC Corporation closed on Thursday at $59.77.

Latest Ratings for FMC

DateFirmActionFromTo
Jul 2016CitigroupMaintainsNeutral
Apr 2016Credit SuisseDowngradesOutperformNeutral
Apr 2016CLSAInitiates Coverage onOutperform

View More Analyst Ratings for FMC
View the Latest Analyst Ratings

Posted-In: Bank of AmericaAnalyst Color Reiteration Analyst Ratings

 

Related Articles (FMC)

View Comments and Join the Discussion!