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Fly News Breaks for September 2, 2015
FCX
Sep 2, 2015 | 07:02 EDT
Morgan Stanley said Freeport McMoRan should be free cash flow positive in 2016, even if copper falls another 30%. The firm said Freeport has the capability to make more cost cuts if needed and said shares look attractive based on a long-term price recovery and near-term free cash flow inflection point. Morgan Stanley rates Freeport an Overweight with an $18 price target.
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