Bernstein upgraded Freeport-McMoRan to Outperform from Market Perform with a price target of $48.50, up from $41. The analyst likes copper in general in 2024 and saw the end of 2023 mining events push 2024 closer to deficit. . 2024 brings a significant catalyst for the company with the Indonesia special mining license extension around Grasberg, the analyst tells investors in a research note.
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