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Fly News Breaks for May 14, 2018
FMC
May 14, 2018 | 06:55 EDT
Goldman Sachs analyst Robert Koort upgraded FMC Corp. to Buy from Neutral and raised its price target to $114 from $99. Koort said the solid Q1 report convinced him to change his rating as pro forma orgnaic growth rates were very strong,and earnings contribution from the DowDuPont acquisition far exceeded his expectations. The analyst expects FMC's 2018 earnings to top guidance and for 2019/20 to see double-digit earnings growth. Koort is also encouraged by corn prices that are nearing a two-year high, which has historically been a leading indicator of crop protection sales growth.
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