Freeport-McMoRan (FCX) PT Raised to $19 at B.Riley/FBR on 4Q Beat, Grasberg Guidance Update & Commentary on Indonesian Regulatory Situation

B.Riley/FBR raised its price target on Freeport-McMoRan (NYSE: FCX) to $19.00 (from $18.00) while maintaining a Neutral rating, following the company's fourth quarter earnings report.

Analyst Lucas Pipes notes a positive outlook on the shares, as the company reported fourth quarter earnings per share and revenues above consensus projections driven by tax benefits from U.S. Tax Reform legislation and in--line copper sales, while management provided Grasberg guidance updates.

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