Jefferies Reiterates Buy on FMC Corp. (FMC)
- Donald Trump Sworn in as 45th U.S. President
- Wall Street ends higher as Trump becomes president
- Walgreens Boots Alliance (WBA) Said to Face Antitrust Concern for Rite Aid (RAD) Fix - Bloomberg
- Bristol-Myers Squibb (BMY) Says It Won't Pursue Accelerated U.S. Regulatory Pathway for Opdivo Plus Yervoy in Lung Cancer
- Apple (AAPL) Sues Qualcomm (QCOM) Over Patent Royalties in Antitrust Case - Bloomberg
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
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."
Shares of FMC Corp. closed at $48.54 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- IBM (IBM): Closer Look Shows The - Jefferies
- UPDATE: Stifel Upgrades Abraxas Petroleum (AXAS) to Buy Amid Emerging Delaware Basin Potential
- Polaris Industries (PII) PT Raised to $85 at Stifel Ahead of 4Q Report
Create E-mail Alert Related CategoriesAnalyst Comments
Related EntitiesJefferies & Co
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!