FMC price target raised to $21 from $17 at Goldman Sachs

Goldman Sachs analyst Duffy Fischer raised the firm’s price target on FMC (FMC) to $21 from $17 and keeps a Buy rating on the shares. The Middle East conflict has driven a sharper-than-expected impact on nitrogen fertilizers, with urea prices rising 50%-70% due to pre-existing market tightness, creating increasing strain on agriculture as the conflict continues, the analyst tells investors in a research note. At the same time, sulfur shortages are pressuring phosphate producers globally, with production cuts already emerging, the firm says.