Mizuho upgrades FMC Corp to 'outperform', raises PT

FMC

25/04/2025 15:14

** Mizuho upgrades rating on agrichemicals company FMC Corp FMC.N to "outperform" from "neutral", raises price target to $49 from $46

** FMC shares up 2.3% at $41.64 in morning trade

** New price target represents a 20.1% upside to the stock's last close

** "While it could be difficult to look beyond the near-term...we believe the focus should and will soon shift to the medium and longer-term opportunities (driven by new products) that will deliver value" - brokerage

** Says that the worst is almost over as inventory destocking ended in North America and EMEA, and volumes are normalizing

** Destocking is on track to end in the next quarter or so in Latin America, and in India in early 2026

** Brokerage adds that new product introductions will be the "key drivers" of growth

** 6 of 21 brokerages rate the stock "buy" or higher, 13 "hold" and 2 "sell" or lower; median PT is $47.50 - data compiled by LSEG

** Including session's moves, stock down 16.3% YTD

(Reporting by Pooja Menon in Bengaluru)

((Pooja.Menon@thomsonreuters.com;))