Goldman Sachs Lifts Price Target On Freeport-McMoRan (FCX) to $95
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Goldman Sachs raised its price target on Freeport-McMoRan Copper & Gold (NYSE: FCX) from $90 to $95, while maintaining their Conviction Buy List rating on the company. The firm said there is still some room from upside.
On lower gold sales assumptions, the firm reduced 4Q2009/ 2010 EPS estimates to $1.45/$7.15 from $1.64/$7.30.
The firm said, "We continue to view copper as a structural, long-term winner and like FCX for its pure-play exposure to the metal."
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