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FCX

Freeport McMoRan

$10.86

0.17 (1.59%)

07:13
10/03/16
10/03
07:13
10/03/16
07:13

Freeport McMoRan upgraded to Buy from Hold at Deutsche Bank

FCX Freeport McMoRan
$10.86

0.17 (1.59%)

09/14/16
09/14/16
DOWNGRADE
Target $7

Underweight
Freeport McMoRan downgraded to Underweight on valuation at Morgan Stanley
As previously reported, Morgan Stanley downgraded Freeport McMoRan to Underweight from Equal Weight. Analyst Evan Kurtz said risk/reward is skewed to the downside as the stock is now pricing in $2.75/lb copper, above the firm's $2.43 average over the next 3 years. The analyst believes further copper asset sales will struggle to push shares higher and said copper needs to be closer to $3/lb for the company to be able to de-lever further and pursue Grasberg mine extension capex. Kurtz lowered his price target on Freeport shares to $7 from $9 primarily due to the Gulf of Mexico asset sale.
09/14/16
JANY
09/14/16
NO CHANGE
JANY
Anadarko deal positive for Western Gas, Genesis Energy, says Janney Capital
Janney Capital analyst Akil Marsh said he sees positive "read across" to Western Gas Partners (WES) and Western Gas Equity (WGP), as wells as to Genesis Energy (GEL), from Anadarko's (APC) $2B deal to buy deepwater Gulf of Mexico assets from Freeport McMoRan (FCX). Marsh explains that Western Gas should benefit from the increased likelihood of higher volumes while the improved long-term sustainability of drilling in these assets is good for Genesis' offshore pipelines.
09/14/16
09/14/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. American Airlines (AAL) downgraded to Neutral from Buy at UBS with analyst Darryl Genovesi citing relative outperformance. The analyst raised his price target to $38 from $35. 2. Coach (COH) downgraded on sustainability of turnaround efforts at Morgan Stanley with analyst Kimberly Greenberger saying the company delivered on fiscal 2016 financial targets but the 10-K suggests the turnaround is unsustainable and was achieved in an "unhealthy manner." 3. Freeport McMoRan (FCX) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Evan Kurtz saying risk/reward is skewed to the downside as the stock is now pricing in $2.75/lb copper, above the firm's $2.43 average over the next 3 years. 4. HSBC (HSBC) downgraded to Neutral from Buy at UBS with the firm citing valuation following the recent rise in the shares. 5. Intersil (ISIL) downgraded to Hold from Buy at Deutsche Bank and to Neutral from Buy at B. Riley. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/16/16
JPMS
09/16/16
NO CHANGE
Target $70
JPMS
Overweight
Anadarko price target raised to $70 from $64 at JPMorgan
JPMorgan analyst Arun Jayaram raised his price target for Anadarko Petroleum (APC) to $70 citing accretion from the deepwater property acquisition and uplift from higher planned reinvestment into its U.S. onshore franchise assets. Acquiring Freeport McMoRan's (FCX) deepwater assets in the Gulf of Mexico is contrarian with a strong strategic fit, Jayaram tells investors in a research note. The analyst keeps an Overweight rating on Anadarko.

TODAY'S FREE FLY STORIES

PRTA

Prothena

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2.12 (4.00%)

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Wheaton Precious Metals

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BAC

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$22.38

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$8.01

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$8.01

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Seritage Growth Properties

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SRDX

SurModics

$28.30

0.75 (2.72%)

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$NSD

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POL

PolyOne

$38.14

-0.27 (-0.70%)

10:16
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$NYE

NYSE Market Internals

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10:15
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General news
Fed funds futures are sinking lower »

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APRN

Blue Apron

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Blue Apron CEO says company ready to go public, but didn't 'need' IPO to be now »

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  • 29

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VRX

Valeant

$18.09

0.9399 (5.48%)

10:10
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  • 24

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SPY

SPDR S&P 500 ETF Trust

$243.04

-0.45 (-0.18%)

, SPX

S&P 500

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Technical View: S&P 500 falls below range midpoint and pivot low »

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SPY

SPDR S&P 500 ETF Trust

$243.04

-0.45 (-0.18%)

SPX

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MODN

Model N

$12.95

-0.0001 (-0.00%)

10:06
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Model N initiated  »

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SNAP

Snap

$17.98

0.22 (1.24%)

10:05
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Options
Snap Inc. call volume above normal and directionally bullish »

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  • 19

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MSFT

Microsoft

$69.80

0.59 (0.85%)

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SCSS

Select Comfort

$31.98

0.46 (1.46%)

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DDAIF

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AYI

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C

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SCSS

Select Comfort

$31.98

0.46 (1.46%)

, TPX

Tempur Sealy

$52.98

2.105 (4.14%)

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Select Comfort

$31.98

0.46 (1.46%)

TPX

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09:50
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MSFT

Microsoft

$69.80

0.59 (0.85%)

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  • 20

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