Jefferies raised the firm’s price target on Freeport-McMoRan (FCX) to $50 from $48 and keeps a Buy rating on the shares. Freeport is heading into a period of rising free cash flow due to higher volumes, lower unit costs and higher price realizations, says the analyst, who sees this presenting “an excellent backdrop for the company to accelerate its share repurchases even as it increases investment in its organic growth” if this all plays out as the firm expects.
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Read More on FCX:
- Freeport-McMoRan price target raised to $52 from $51 at Raymond James
- Buy Rating for Freeport-McMoRan: Strong Performance, Strategic Positioning, and Market Opportunities
- Freeport-McMoRan Reports Strong Q1 2025 Results
- Freeport-McMoRan reiterates financial investment priorities
- Freeport-McMoRan says expects production in the U.S. to increase in 2025
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