JPMorgan analyst Bill Peterson raised the firm’s price target on Freeport-McMoRan (FCX) to $56 from $42 and keeps an Overweight rating on the shares. The firm increased the price target as part of a Q2 earnings preview for base metals. It increased copper price targets to reflect higher commodity pricing and easing recession risk.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on FCX:
- 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
- Citi ups Freeport target, opens ‘upside 90-day catalyst watch’
- Hold Rating for Freeport-McMoRan Amid Uncertain Copper Market and Moderate Expected Return