Jefferies Reiterates Buy on FMC Corp. (FMC)

September 29, 2016 8:34 AM EDT
Get Alerts FMC Hot Sheet
Price: $56.23 -1.19%

Rating Summary:
    7 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 26 | New: 28
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Jefferies reiterated a Buy rating and $58.00 price target on FMC Corp. (NYSE: FMC) after adjusting estimates. Jefferies now estimates 2017 EPS to be $2.85, down from $3.00.

Analyst Laurence Alexander commented, "End-market mix in 2017E still looks challenging, and we are trimming estimates $0.15 to $2.85. Our forecast of an 11% EPS CAGR through 2019E includes 40bps from a lower tax rate, 160bps from share buybacks or equivalent bolt-on M&A ($0.8bn to maintain 2.1x net debt/EBITDA) and margin expansion in lithium supplementing 4% top-line growth. Share performance still largely hinges on investors discounting an ag upturn in 2018-2020."

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 $48.54 yesterday.



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