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FCX

Freeport McMoRan

$12.73

-0.03 (-0.24%)

06:01
03/21/17
03/21
06:01
03/21/17
06:01

Freeport McMoRan upgraded to Hold from Sell at Deutsche Bank

Deutsche Bank analyst Chris Terry upgraded Freeport McMoRan to Hold citing a more positive Industrials commodity view. Upstream mining equities "continue to make strong free cash flow with commodity price momentum," Terry tells investors in a research note. The analyst remains cautious on Grasberg, however. He raised his price target for Freeport shares to $14 from $12.50.

FCX Freeport McMoRan
$12.73

-0.03 (-0.24%)

02/21/17
SBSH
02/21/17
INITIATION
Target $16
SBSH
Neutral
Freeport McMoRan initiated with a Neutral at Citi
Citi analyst Alexander Hacking started Freeport McMoRan with a Neutral rating and $16 price target. The analyst finds the stock fully value amid uncertainties around Grasberg.
02/21/17
DBAB
02/21/17
DOWNGRADE
Target $12.5
DBAB
Sell
Freeport McMoRan downgraded to Sell from Hold at Deutsche Bank
Deutsche Bank analyst Chris Terry downgraded Freeport McMoRan to Sell following news that the company failed to reach an agreement to export copper concentrate from Indonesia. The analyst now assumes that Grasberg operates on scaled-back mode, only supplying the local Gresik smelter for the remainder of 2017. He cut his price target for Freeport shares to $12.50 from $14.
02/21/17
02/21/17
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. Dick's Sporting (DKS) downgraded to Perform from Outperform at Oppenheimer by analyst Brian Nagel ahead of its upcoming earnings report, as he is increasingly concerned after a large number of leading sporting goods manufacturers and retailers reported results well shy of expectations, all while certain industry-wide sales trackers also hinted at top-line disruptions for the sector. 2. Mobileye (MBLY) downgraded to Neutral from Buy, as analyst Alex Veytsman said expectations are high and valuation largely reflects its strong growth profile. 3. Freeport McMoRan (FCX) downgraded to Sell from Hold at Deutsche Bank by analyst Chris Terry following news that the company failed to reach an agreement to export copper concentrate from Indonesia. The analyst now assumes that Grasberg operates on scaled-back mode, only supplying the local Gresik smelter for the remainder of 2017. He cut his price target for Freeport shares to $12.50 from $14. 4. Lumos Networks (LMOS) downgraded to Hold from Buy at Jefferies by analyst Scott Goldman citing the takeover by EQT Infrastructure, stating he does not expect any competing bids and sees "virtually no deal risk from a regulatory standpoint." 5. Depomed (DEPO) downgraded to Neutral from Buy at Mizuho. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/21/17
02/21/17
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Snap Inc (SNAP) initiated with a Neutral rating and a $14 price target at Atlantic Equities, who said that expansion beyond the core audience is likely challenging, sustainability of engagement concerns will persist, and margins are structurally lower than peers. 2. REV Group (REVG) initiated with an Outperform at Credit Suisse. 3. Nokia (NOK) initiated with a Buy at Craig-Hallum. 4. Freeport McMoRan (FCX) initiated with a Neutral at Citi. 5. Jounce Therapeutics (JNCE) initiated with an Outperform at Cowen, with an Outperform at Wells Fargo and with an Overweight at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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DDAIF

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JRJR

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GOOG

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CE

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FIVE

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FNV

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MSFT

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FNV

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CPB

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TEO

Telecom Argentina

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MYL

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CG

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PENN

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HOLX

Hologic

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FIVE

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$38.13

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ENPH

Enphase Energy

$1.24

-0.01 (-0.80%)

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