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Fly News Breaks for April 19, 2016
FCX
Apr 19, 2016 | 06:28 EDT
CLSA analyst David Lipschitz downgraded Freeport McMoRan to Sell from Buy citing expectations a copper price recovery will now be delayed due to continued weak Chinese growth. The analyst also sees additional headwinds from the oil and gas businesses and said shares appear to be pricing in a significant higher copper price. Lipschitz raised his price target on Freeport McMoRan shares to $8 from $5 due to lower net debt on asset sales.
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