FMC Corp's stock plummeted 5.05% in the pre-market trading session on Friday after UBS downgraded the company to Neutral from Buy.
The firm cut its price target on FMC to $38 from $66, citing diminished prospects for a market recovery in 2025. UBS analysts no longer see the potential for a bounce back in the chemical company's markets next year, leading to the downgrade and lower valuation.
FMC Corp is an agricultural sciences company that specializes in crop protection products and services. The downgrade likely reflects concerns over weak agricultural markets and demand outlook due to factors like unfavorable weather conditions or trade tensions impacting farmer incomes and spending.