UBS analyst Daniel Major lowered the firm’s price target on Freeport-McMoRan (FCX) to $42.50 from $50 and keeps a Neutral rating on the shares after the company provided an update on the Grasberg incident. The company cut its 2025 and 2026 outlooks on lower Grasberg copper and gold output, the analyst tells investors in a research note. UBS sees an uncertain outlook for Freeport.
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