Freeport-McMoRan (FCX) PT Raised to $53 at Raymond James
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Price: $76.66 +7.64%
Rating Summary:
28 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
28 Buy, 7 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Raymond James analyst Brian MacArthur raised the price target on Freeport-McMoRan (NYSE: FCX) to $53.00 (from $52.00) while maintaining a Outperform rating.
The analyst comments "FCX offers investors exposure to a portfolio of large, low-cost, long life copper assets with significant gold production. We believe FCX has excellent assets, but also has higher jurisdictional risk given Grasberg, one of its major assets, is located in Indonesia. However, we believe the December 2018 Indonesia transaction provided greater certainty about the future cash flows from Grasberg."
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