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Fly News Breaks for May 20, 2019
May 20, 2019 | 08:10 EDT
As previously reported, Morgan Stanley initiated FMC Corporation with an Equal Weight and $82 price target. Though analyst Vincent Andrews said he sees FMC as "the best growth story in Ag," he thinks the stock could be held back by investor concern over "real and perceived" challenges associated with managing patent expirations for products representing 35% of company sales in 2022+. While he notes that FMC's products have multiple patents that expire in different years in different key countries and he believes the patent expiration is largely manageable, Andrews recognizes that patent concerns could weigh on the stock in the interim.
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