FMC price target lowered to $50 from $62 at BMO Capital

BMO Capital lowered the firm’s price target on FMC (FMC) to $50 from $62 and keeps a Market Perform rating on the shares after its Q4 results and below-consensus outlook. There are concerns that FMC’s EBITDA remains below $1B for some time, as FMC requires real traction with the new AIs and successfully defend the diamides through cost actions and innovation, the analyst tells investors in a research note. BMO adds it is on the sidelines until evidence emerges that growth plans can work.