Citi raised the firm’s price target on Freeport-McMoRan (FCX) to $48 from $44 and keeps a Neutral rating on the shares as part of a Q2 earnings preview. The firm also added an “upside 90-day catalyst watch” on the shares. Citi expects a 25% tariff on copper in the next 90 days, and believes Freeport will be the “only real winner” in the copper group given its large U.S. operations.
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