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Fly News Breaks for September 11, 2018
FCX
Sep 11, 2018 | 08:50 EDT
As previously reported, Clarksons Platou downgraded Freeport McMoRan to Neutral from Buy and lowered its price target to $15 from $21. Analyst Jeremy Sussman lowered estimates to reflect a move down in the copper price deck, expects copper prices to likely remain under $3/lb through 2019, and for 2019 Grasberg output to be roughly half of its long-term annual target.
News For FCX From the Last 2 Days
FCX
Apr 17, 2024 | 05:46 EDT
JPMorgan raised the firm's price target on Freeport-McMoRan to $52 from $43 and keeps a Neutral rating on the shares as part of a Q1 earnings preview for the North America copper group. Copper's recent bullish shift has unfolded quicker than expected while coinciding with earlier than anticipated momentum building in global manufacturing PMIs, suggesting pricing may have outpaced fundamentals at this point, the analyst tells investors in a research note.
