Markets & Finance

UBS Warburg Upgrades FMC to 'Strong Buy'


UBS Warburg upgraded FMC (FMC) to strong buy from hold.

Analyst Andrew Cash says FMC is a more focused company, a pure play on the chemical industry after having spun off its food and oil equipment operations. He believes FMC is both underfollowed and underpriced. He notes FMC could rise in value due to earnings momentum tied to a general chemical industry upturn.

More importantly, Cash says he thinks the company is capable of closing up the value gap between the recent share price and his $55 target. He cites the sale of the company's agriculture chemical business as one potential way to raise earnings per share and cut debt. Cash also thinks CEO Bill Walter and FMC management are itching to create value.


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