Freeport-McMoRan price target raised to $44 from $38 at Argus

Argus raised the firm’s price target on Freeport-McMoRan to $44 from $38 and keeps a Buy rating on the shares. The company has recently topped consensus estimates with its Q4 earnings, and the firm expects copper demand to remain elevated over the intermediate term given global growth in electrification initiatives, the analyst tells investors in a research note.