FMC upgraded to Neutral from Underperform at BofA

BofA upgraded FMC (FMC) to Neutral from Underperform with a price target of $33, down from $37. The stock has particularly underperformed over the past few months amid a broader understanding by investors of the challenges the company will face into 2026 and the concerns about the long-term outlook for the crop chemical business spurred by Corteva (CTVA) break-up strategy, the analyst tells investors in a research note. BofA notes that its upgrade reflects the stock’s low valuation multiple and the view that earnings should grow next year despite diamide headwinds.