Citi analyst Alexander Hacking raised the firm’s price target on Freeport-McMoRan (FCX) to $67 from $48 and keeps a Buy rating on the shares. The firm updated the company’s model to reflect recent copper prices and the Grasberg ramp. Citi has a short-term bullish view on copper.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- The Week That Was, The Week Ahead: Macro and Markets, Jan. 11
- Understanding the Freeport Shareholder Litigation: What Investors Need to Know
- Freeport-McMoRan price target raised to $68 from $58 at JPMorgan
- FCX, GLNCY, RIO: Copper Shortage Poses ‘Systemic Risks’ as Big Tech Demands Soar
- Freeport-McMoRan price target raised to $68 from $55 at Jefferies