Freeport-McMoRan price target raised to $60 from $53 at Scotiabank

Scotiabank raised the firm’s price target on Freeport-McMoRan to $60 from $53 and keeps an Outperform rating on the shares. The firm has “markedly improved” its near-term commodity price outlook, which now reflects the impact of ongoing supply-chain challenges along with the resilient global demand, the analyst tells investors.