Freeport-McMoRan (FCX) PT Lowered to $32 at Morgan Stanley

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Go back to Freeport-McMoRan (FCX) PT Lowered to $32 at Morgan Stanley

BofA Reinstates Coverage of Freeport-McMoRan (FCX) and Teck Resources (TECK) at Buy

September 29, 2021 8:12 AM EDT

BofA analyst Lawson Winder has reinstated the research coverage of Freeport (NYSE: FCX) and Teck Resources (NYSE: TECK) at Buy.

The analyst argues that both stocks offer growth-focused copper exposure.

We see copper in a range around current levels for the next few years, global economic headwinds notwithstanding. We thus prefer copper exposed stocks with low-cost volume growth. For 2022E we forecast copper averaging US$9,875/t... More