FMC Corp announces restructuring plans; shares fall

Shares of agrichemicals company FMC Corp FMC.N down 6.7% at $12.98

Brokerages BMO Capital Markets and Mizuho cut price target on the company

BMO cuts PT to $17 from $25, expects FMC to report lower core profit in 2026 compared to 2025 which will reinforce a bearish view in the market

The new PT still represents an upside of 22.2% to the stock's last close

Brokerage Mizuho cuts PT to $24 from $30, representing an upside of 72.5% to the stock's last close

Co said late on Friday its board approved a restructuring plan, aimed at cutting costs, shutting down high-cost plants and shifting production to lower-cost locations

FMC expects to save about $175 million or more by the end of 2027

Expects to incur restructuring charges of between $560 million and $635 million over the life of the program

Including session's move, stock down 73.3% YTD