BMO Capital analyst Joel Jackson lowered the firm’s price target on FMC Corporation to $80 from $90 but keeps an Outperform rating on the shares after its reduced Q3 and FY23 guidance. With near-zero visibility into 2024 earnings power, an untrusting investor base, FMC is clearly a 2024 show-me story, but at its current valuations, the stock has likely “overcorrected”, the analyst tells investors in a research note. BMO adds however that it is reducing its FY23 EPS view to $3.90 from $6.12 and its FY24 view to $5.04 from $7.22.
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