Citi upgraded Freeport-McMoRan (FCX) to Buy from Neutral with an unchanged $48 price target The firm has raised its copper price forecasts and now expects the metal to reach $12,000 in the first half of 12,000, the analyst tells investors in a research note. The stock is oversold following the Grasberg incident and represents a rare opportunity to buy into the world’s largest copper miner at a discount, the firm added.
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