Deutsche Bank Upgrades Freeport-McMoRan (FCX) to Buy; More Positive on Stock After 2 Strong Quarters
More News related to FCX
- Trading Overview for Harmony Gold Mining Co. Ltd. Issued by StockPreacher.com
- ETF Movers: XLF, XLB, TAN, USO, GLD Up; FAZ, IYT, KRE Lower
- Freeport McMoRan (FCX) volatility at 17-month lows
- Standard & Poor's Announces Changes to U.S. Indices
- S&P Announces Changes to US Indices: FCX for SGP, PCLN for SGP, MXB for PCLN
More News related to FRX
- Ironwood Pharma and Forest Labs (FRX) Announces Positive Top-Line Results for Linaclotide in Two Phase 3's
- Ironwood and Forest Announce Positive Linaclotide Results from Two Pivotal Phase 3 Trials in Patients with Chronic Constipation
- Forest Laboratories, Inc. and Gedeon Richter Announce Positive Results from a Phase IIb Study of Cariprazine for the Treatment of Schizophrenia
- Trading Review for Discovery Laboratories Inc. Issued by Beacon Equity
- Deutsche Bank Upgrades Freeport-McMoRan (FCX) to Buy; More Positive on Stock After 2 Strong Quarters
Deutsche Bank upgrades Freeport-McMoRan (NYSE: FCX) to Buy. Price target increased from $72 to $100.
Deutsche analyst says, "After 2 quarters of FCX handily beating ours (and consensus estimates) we are now reflecting a more “fully loaded” volume outlook. This has led us to significantly revise earnings upwards and derive a new 12-month Price Target of US$100/share which has led us to upgrade FCX to a Buy. Re-instated annual cash dividend of US$0.60/share has higher to go in our view...While our EPS estimates (US$8.49) are 42% higher and 76% higher than Bloomberg consensus of US$5.99 and US$7.15 we believe consensus has yet to play “catch up” given rate of recovery in FCX’s results."
To see more analyst ratings on FRX Click Here.
Related Categories
UpgradesStocks Mentioned
-0.15
+0.46Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
