FMC price target lowered to $49 from $51 at KeyBanc

KeyBanc lowered the firm’s price target on FMC (FMC) to $49 from $51 and keeps an Overweight rating on the shares. The firm thinks updates on observed effect of the tariffs on demand in April/May would be consequential for chemical names during Q1 earnings season, while Q1 results and 2025 guidance are now a bit less relevant. Other new major topics KeyBanc expects to be discussed are exposure to U.S. imports of raw materials from high-tariff countries and any outlook on pricing actions to offset higher costs. Further, the firm also expects most companies to see early signs of slower demand, with several data points indicating weak trends in March likely only softened in April.