Jefferies analyst Christopher LaFemina raised the firm’s price target on Freeport-McMoRan (FCX) to $68 from $55 and keeps a Buy rating on the shares. Freeport disclosed its realized copper price for Q4 this morning, and the firm updated its model accordingly, the analyst tells investors in a research note. Assuming the company hit its operation targets for the quarter, the firm now estimates Q4 EBITDA of $1.62B and EPS of 35c, versus the consensus estimates of $1.32B and 25c, respectively. Freeport continues to be one of Jefferies’ top picks, the analyst adds.
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