Wells Fargo raised the firm’s price target on Freeport-McMoRan (FCX) to $55 from $47 and keeps an Overweight rating on the shares. The firm says supply constraints can support copper and aluminum prices, especially through Q3 2026. Wells also points out that steep power costs and copper switching especially boost aluminum.
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Read More on FCX:
- Mixed options sentiment in Freeport McMoRan with shares down 0.26%
- Moderately bullish activity in Freeport McMoRan with shares up 0.68%
- Freeport-McMoRan price target raised to $53 from $44 at Morgan Stanley
- 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