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Fly News Breaks for October 17, 2016
FCX
Oct 17, 2016 | 06:39 EDT
BofA/Merrill analyst Timna Tanners reinstated coverage on Freeport McMoRan with an Underperform and an $8 price target. The BofA/Merill global commodity team sees copper among the weakest base metals against a backdrop of sluggish global growth and large mines coming online. Tanners said Indonesia mine risk will be a focus as export restrictions could start in 2017 and its unclear what will happen when Freeport McMoRan's license expires in 2021.
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