BUZZ-Street View: FMC falls after brokerages cut PT, cite pricing pressures

Reuters
Oct 31
BUZZ-Street View: FMC falls after brokerages cut PT, cite pricing pressures

** Agrichemicals firm FMC posted a nearly 50% drop in Q3 net sales on Wednesday, weighed down by divestiture of India business and pricing changes

** Shares of FMC FMC.N fall nearly 4% in premarket trading

** At least seven brokerages cut PT after co reported downbeat annual profit forecast

** Nine of 21 brokerages rate the stock "buy" or higher, 11 "hold" and one "strong sell"; their median PT is $39.5 - data compiled by LSEG

** As of last close, shares down about 68% YTD

PRICING PRESSURES MOVING FORWARD

** Jefferies (cuts PT to $26 from $49) says the diamide contract headwinds and the Latin American generic pricing pressures likely hinder sales again in Q4

** Barclays ("equal-weight", cuts PT to $22 from $48) says co to be hurt by pricing headwinds from generics and cost-plus adjustments in Q4

** KeyBanc ("sector weight") says while there is path to upside, 2026 will present additional cash pressures as FMC needs to lower cost of production

(Reporting by Parth Chandna)

((Parth.Chandna@thomsonreuters.com;))

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