Jefferies Maintains a 'Buy' on FMC Corp. (FMC); Results Helped by Taxes; Trends Still Intact

Jefferies maintains a 'Buy' on FMC Corp. (NYSE: FMC) price target raised from $104 to $108.

Jefferies analyst says, "FMC's segment profits in Q4 were essentially in line after higher corporate expenses. Trends remain favorable across its portfolio, with segment profits likely up 13% YoY in 2012E. We are raising 2012E EPS $0.40 to $6.90, which includes a $0.50 tailwind from a lower tax rate and lower sharecount. We are raising our price target to $108 on higher market multiples."

For an analyst ratings summary and ratings history on FMC Corp. click here. For more ratings news on FMC Corp. click here.

Shares of FMC Corp. closed at $92.80 yesterday, with a 52 week range of $63.81-$95.58.

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