Market Overview

UPDATE: Credit Suisse Raises PT on FMC Following Management Meetings

Share:
Related FMC
Mother Nature Will Determine Future Of Portfolio When It Comes To Climate Change Stocks
Piper Jaffray Upgrades 6 Ag Equipment/Chemical Stocks
New High Analysis: FMC Breaks Out; VMware Strong Pre-Earnings (Investor's Business Daily)

In a report published Tuesday, Credit Suisse analyst John P. McNulty reiterated an Outperform rating on FMC (NYSE: FMC), and raised the price target from $71.00 to $78.00.

In the report, Credit Suisse noted, “After time with CEO Pierre Brondeau, Head of Ag Mark Douglass and IR Alisha Bellezza, we continue to believe FMC (Rocket Turtle) should continue to enjoy fast but steady growth and drive significant value for investors over the next 12-months and longer term. With greater confidence that FMC is on track to reach their EPS goal of $5.75-6.25 in 2015 we are raising our 2015 estimate to $5.76 (which conservatively assumes no use of the balance sheet for M&A that would likely push them toward $6), solidly above the consensus of $5.41. We are raising our 12-month price target to $78 (a conservative 16x our 2014 EPS) and believe by 2015 FMC will be at $110-132 (offering 70-100% upside over the next 2.5 years).”

FMC closed on Monday at $62.03.

Latest Ratings for FMC

DateFirmActionFromTo
Dec 2016Goldman SachsUpgradesNeutralBuy
Nov 2016PiperJaffrayUpgradesUnderweightNeutral
Nov 2016Credit SuisseUpgradesNeutralOutperform

View More Analyst Ratings for FMC
View the Latest Analyst Ratings

Posted-In: Credit Suisse John P. McNultyAnalyst Color Price Target Analyst Ratings

 

Related Articles (FMC)

View Comments and Join the Discussion!