Goldman Sachs analyst Adam Samuelson raised the firm’s price target on FMC Corporation to $159 from $155 and keeps a Buy rating on the shares after its Q4 earnings beat and the management’s "conservative" below-consensus FY23 guidance. The prudence in the outlook is predicated on incoming headwinds from an inflationary environment, FX and higher interest rates expected to be front-loaded during the year, the analyst tells investors in a research note. The firm further cites its "optimistic macro outlook" for crop protection demand over the short to medium term from secular tailwinds in tight grain and oilseed balances.
Published first on TheFly
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Read More on FMC:
- FMC Corporation price target raised to $145 from $140 at BMO Capital
- FMC Corporation price target raised to $120 from $112 at Credit Suisse
- FMC Corporation sees Q1 adjusted EPS $1.63-$1.83, consensus $1.87
- FMC sees FY23 adjusted EPS $7.20-$8.00, consensus $8.37
- FMC Corporation delivers record fourth quarter and full-year 2022 results, guides strong growth for 2023
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