Wells Fargo analyst Richard Garchitorena lowered the firm’s price target on FMC Corporation to $56 from $73 and keeps an Equal Weight rating on the shares after the company lowered its Q3 and 2023 guidance due to worse-than-expected destocking in Latin America, which is now expected to continue into 2024. FMC also announced a restructuring plan in Brazil and a total company cost structure review, the firm adds.
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