CompetitionThe company is seeing increased generic competition for Rynaxypyr in China, India, Eastern Europe and South America, pressuring both pricing and volumes.
Financial PerformanceThe price target has been reduced from $70 to $46 on lower EBITDA and a lower target multiple, reflecting ongoing financial performance challenges.
GuidanceFMC's 1Q25 and full year 2025 guidance is well below forecast, reflecting renewed destocking pressures and weaker pricing.