Credit Suisse Raises FMC Target To $100 From $90

Credit Suisse is raising its 12-month price target on shares of FMC Corporation FMC to $100 (from $90) “as we roll our target multiple to our 2012 estimates, which offers 26% upside including a 0.6% dividend yield and justifying our Outperform rating.” “While our price target reflects a premium to FMC's historical average multiple (8.3X vs. 7.4X historically), we believe it is justified given FMC's solid earnings outlook, solid balance sheet, improved return profile and strong FCF generation. FMC Corporation currently trades at $81.16.