Why FMC Stock Surged Today
President Donald Trump is all set to impose tariffs on agricultural products on April 2, while China and Canada have already announced retaliatory tariffs on several items, including food and farm products. Yet, shares of FMC Corp (NYSE: FMC), which calls itself an agricultural sciences company and sells chemicals, surged today and were trading 6% higher as of 1:30 p.m. ET Wednesday.An analyst downgraded the price target on the agriculture stock but still expects significant upside. Investors are, perhaps, also betting on the CEO's latest move.An analyst at Seaport Global slashed FMC stock's price target to $55 per share from $72 a share, citing a weak, global macroenvironment and the potential impact of tariffs on demand for agricultural products.Continue reading
President Donald Trump is all set to impose tariffs on agricultural products on April 2, while China and Canada have already announced retaliatory tariffs on several items, including food and farm products. Yet, shares of FMC Corp (NYSE: FMC), which calls itself an agricultural sciences company and sells chemicals, surged today and were trading 6% higher as of 1:30 p.m. ET Wednesday.
An analyst downgraded the price target on the agriculture stock but still expects significant upside. Investors are, perhaps, also betting on the CEO's latest move.
An analyst at Seaport Global slashed FMC stock's price target to $55 per share from $72 a share, citing a weak, global macroenvironment and the potential impact of tariffs on demand for agricultural products.
