Scotiabank analyst Orest Wowkodaw raised the firm’s price target on Freeport-McMoRan (FCX) to $52 from $48 and keeps an Outperform rating on the shares. The firm believes Freeport-McMoRan is the biggest winner of punitive Copper tariffs givens its domestic production and exposure to premium Comex prices, the analyst tells investors.
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Read More on FCX:
- Freeport-McMoRan price target raised to $56 from $42 at JPMorgan
- Copper market faces turmoil after Trump indicates 50% tariff, Bloomberg says
- Freeport-McMoRan initiated with a Buy at Stifel
- Freeport McMoRan call volume above normal and directionally bullish
- Trump says will be imposing 50% tariff on copper