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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.