UBS initiated coverage of Freeport-McMoRan with a Neutral rating and $41 price target. UBS is bullish on the long-term outlook for copper, but views the valuation as full for the stock and thinks copper prices will be range bound in 2024 near $4.00/lb, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on FCX:
- Freeport-McMoRan upgraded to Outperform from Market Perform at Bernstein
- Freeport-McMoRan price target raised to $43 from $42 at Raymond James
- Gold Fields falls over 10% after cutting production volumes, personnel issues
- Early notable gainers among liquid option names on December 8th
- Freeport McMoRan call volume above normal and directionally bullish