Goldman Sachs Lifts Price Target On Freeport-McMoRan (FCX)
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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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Goldman Sachs adjusted estimates and raised its price target on Buy-rated Freeport-McMoRan (NYSE: FCX) from $63 to $64 following Q2 results.
The firm updated 3Q/4Q 2011 EPS estimates to $1.45/$1.28 from $1.58/$1.18.
Goldman said they expect China to start restocking later this year and expect a tighter copper market in the months ahead. Large cash flow in 2011 and beyond and possible further dividend keeps them positive on the stock.
For more ratings news on Freeport-McMoRan click here and for the rating history of Freeport-McMoRan click here.
Shares of Freeport-McMoRan closed at $55.34 yesterday.
The firm updated 3Q/4Q 2011 EPS estimates to $1.45/$1.28 from $1.58/$1.18.
Goldman said they expect China to start restocking later this year and expect a tighter copper market in the months ahead. Large cash flow in 2011 and beyond and possible further dividend keeps them positive on the stock.
For more ratings news on Freeport-McMoRan click here and for the rating history of Freeport-McMoRan click here.
Shares of Freeport-McMoRan closed at $55.34 yesterday.
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