Fly News Breaks for October 16, 2019
Oct 16, 2019 | 08:11 EDT
As previously reported, Baird analyst Ben Kallo upgraded FMC Corporation to Outperform from Neutral with a price target of $95, up from $86. He believes FMC's new product introductions, expected share gains in key markets, and operating leverage can drive revenue and adjusted EBITDA growth in 2020 and beyond, Kallo tells investors. He also sees the company's free cash flow generation allowing it to return cash to shareholders and/or invest in growth, potentially via M&A, he said. Given that he believes FMC's growth is not as tied to the global business cycle as specialty chemical peers, Kallo thinks the stock could be a "safe-haven," he added.
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