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Fly News Breaks for July 16, 2019
FCX
Jul 16, 2019 | 05:58 EDT
Barclays analyst Matthew Murphy upgraded Freeport McMoRan to Equal Weight from Underweight with an unchanged price target of $12. The analyst says that while Freeport remains his least preferred base metal miner, he "can't ignore the substantial production growth ahead" in both copper and gold if the company can deliver on its guidance at Grasberg. He sees downside in the shares over the next year as "potentially limited."
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.
