Morgan Stanley analyst Carlos De Alba has maintained their bullish stance on FCX stock, giving a Buy rating today.
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Carlos De Alba has given his Buy rating due to a combination of factors related to Freeport-McMoRan’s updated production guidance and market expectations. Despite a reduction in the company’s 2026 copper and gold production outlook, the revised figures align closely with current market consensus and analyst estimates, suggesting that the company is on track to meet broader industry expectations.
Furthermore, the anticipated copper and gold production from 2027 to 2029, while slightly below previous forecasts, remains competitive and is expected to perform well against market predictions. This alignment with market expectations and the potential for the stock to outperform as production stabilizes contribute to De Alba’s positive outlook on Freeport-McMoRan, leading to his Buy rating.
In another report released today, UBS also maintained a Buy rating on the stock with a $55.00 price target.