KeyCorp initiated coverage of FMC Corporation with an overweight rating.
The firm set a $16.00 price target, suggesting a 32% upside from recent trading levels. Analysts believe the company’s earnings are bottoming out as the broader agricultural sector prepares for a rebound.
KeyBanc noted that growth in diverse portfolio segments could offset existing headwinds. The initiation follows mixed quarterly results where FMC exceeded profit expectations but missed revenue targets. This new coverage establishes a positive long-term outlook for the agricultural sciences company.