Morgan Stanley analyst Carlos De Alba raised the firm’s price target on Freeport-McMoRan (FCX) to $53 from $44 and keeps an Overweight rating on the shares. The firm sees more value in aluminum than copper, and with less crowded positioning, it prefers Alcoa (AA) to most copper equities.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- Freeport-McMoRan: Strong Asset Portfolio and Growth Potential Justify Buy Rating Despite Jurisdictional Risks
- Freeport-McMoRan price target raised to $49 from $45 at Raymond James
- Lyft, MP Materials, Freeport-McMoRan, Blink, Lemonade: Insider Moves Unveiled!
- Mixed options sentiment in Freeport McMoRan with shares down 1.28%
- Freeport-McMoRan price target raised to $60 from $55 at UBS