Freeport-McMoRan price target raised to $43 from $42 at Raymond James

Raymond James raised the firm’s price target on Freeport-McMoRan to $43 from $42 and keeps an Outperform rating on the shares. About 50% of current quarter copper sales are recorded at the forward price and 50% are recorded at the quarterly average price, and Raymond James expects higher taxes and minority interest in Q4 vs. Q4 given the mix of sales, the analyst tells investors in a research note.