Market Overview

Dahlman Rose Reiterates Buy Rating, $45 PT on Freeport-McMoRan Copper & Gold

Share:
Related FCX
Benzinga's Top Downgrades
Worst Performing Industries For November 29, 2016
The 5 Best Stocks In Each Sector Since The Election (Seeking Alpha)

In a report published Wednesday, Dahlman Rose & Co. reiterated its Buy rating and $45.00 price target on Freeport-McMoRan Copper & Gold (NYSE: FCX).

Dahlman Rose noted, “Freeport-McMoRan Copper & Gold Inc (FCX, Buy, $45 PT) has announced that it will be acquiring both Plains Exploration & Production Company (PXP, Buy, $50 PT) and McMoRan Exploration Co. (MMR, Buy, $15 PT) in transactions totaling $20 Bn. We estimate that the combined company would have EBITDA of roughly $13.2 Bn, consisting of $9.7 Bn from FCX (assuming a 2013 copper price of $3.75/lb); $3.4 Bn, from PXP; and $143 MM, from MMR – based on our pre-deal individual company estimates.”

Freeport-McMoRan Copper & Gold closed on Tuesday at $38.28.

Latest Ratings for FCX

DateFirmActionFromTo
Nov 2016BerenbergDowngradesHoldSell
Nov 2016Deutsche BankDowngradesBuyHold
Oct 2016Bank of AmericaInitiates Coverage OnUnderperform

View More Analyst Ratings for FCX
View the Latest Analyst Ratings

Posted-In: Dahlman Rose & Co.Analyst Color Reiteration Analyst Ratings

 

Related Articles (FCX)

View Comments and Join the Discussion!