FMC price target lowered to $15.50 from $17 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on FMC (FMC) to $15.50 from $17 and keeps an Equal Weight rating on the shares. The firm lowered its estimates but maintains the view that the most likely outcome for FMC is some form of a joint venture or license agreement on its four new patented molecules, though this could also include co-development of the balance of the R&D pipeline.