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Fly News Breaks for August 2, 2019
Aug 2, 2019 | 05:04 EDT
Goldman Sachs analyst Adam Samuelson upgraded FMC Corporation to Buy from Neutral after assuming coverage of the name and raised his price target for the shares to $100 from $88. The analyst views FMC as a as "unique crop protection pure-play" with favorable growth prospects related to its diamides business and a "healthy" pipeline of crop protection active ingredients. The company should hit its target of 5%-7% annual revenue growth through 2023, more than twice the growth expected from the crop chemical market, Samuelson tells investors in a research note. He sees FMC's growth coming from new products, formulations, and market penetration of diamides.
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