Argus raised the firm’s price target on Freeport-McMoRan to $44 from $38 and keeps a Buy rating on the shares. The company has recently topped consensus estimates with its Q4 earnings, and the firm expects copper demand to remain elevated over the intermediate term given global growth in electrification initiatives, the analyst tells investors in a research note.
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Read More on FCX:
- Freeport-McMoRan names Kathleen Quirk CEO
- Freeport-McMoRan Earnings Call Slides Released
- Freeport-McMoRan: Copper inventories at historically low levels
- Freeport-McMoRan: Copper prices reflective of macro factors vs. available supply
- Freeport-McMoRan: Continues to be ‘micro vs. macro’ story
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