FMC (FMC) has struggled so far this year, underperforming the S&P 500 Index and the VanEck Vectors Agribusiness ETF (MOO). The company gained attention on September 5 following Albemarle’s (ALB) statement of its intention to purchase the company. The company’s lithium business is of interest to Albemarle.
Let’s look at analysts’ recommendations and price targets for FMC.
The overall consensus recommendation on FMC in September is a “buy.” Of the 16 analysts covering the stock, three have given it “strong buy” recommendations compared to four in August. Over the same period, the number of analysts recommending “buys” has fallen to nine from 11 a month ago. The number of analysts recommending “holds” on the stock has remained unchanged at four, and no analysts have “sell” recommendations on the stock.
The consensus mean price target for FMC as of September 6 is $103 per share, almost 24% higher than the stock’s closing price of $82.9 on September 6. At $100, its median price target is also higher than its current price level, indicating an upside in excess of 20%. Both FMC’s mean and median price targets are lower than August’s $104.7 and $104, respectively.
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