BofA raised the firm’s price target on Freeport-McMoRan (FCX) to $58 from $50 and keeps a Buy rating on the shares. The firm is refreshing its price forecasts for North American Metals & Mining stocks under its coverage, the analyst tells investors. The firm sees the macro backdrop as challenging due to China’s slowing commodity demand but notes this may be offset by a rebound in demand in U.S. and Europe.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- Omega, Alphabet, Honeywell, Freeport, DoorDash: Trending by Analysts
- Freeport-McMoRan upgraded to Buy from Neutral at Clarksons
- Early notable gainers among liquid option names on November 19th
- Freeport-McMoRan price target lowered to $44 from $46 at Morgan Stanley
- Freeport-McMoRan price target lowered to $47 from $48 at BMO Capital