Market Overview

UPDATE: Stifel Nicolaus Lowers PT on Freeport-McMoRan Copper & Gold Following Completion of Acquisitions

Share:
Related FCX
It's Not Shopping, It's Market Research: Talking Investing Trends With TD Ameritrade's Nicole Sherrod
Copper Is Key For Freeport-McMoRan And Citi Knows
Freeport-McMoRan Is a Value Investment (GuruFocus)

In a report published Monday, Stifel Nicolaus analyst Paul Massoud reiterated a Buy rating on Freeport-McMoRan Copper & Gold (NYSE: FCX), but lowered the price target from $45.00 to $37.00.

In the report, Stifel Nicolaus noted, “We are lowering our target price from $45 to $37 following the completion of the company's acquisitions of Plains Explorations & Production and McMoRan Exploration. Our new price target reflects updated estimates incorporating FCX's newly added oil and gas business as well as the interruption of production operations at Grasberg.”

Freeport-McMoRan Copper & Gold closed on Friday at $30.92.

Latest Ratings for FCX

DateFirmActionFromTo
Sep 2015CitigroupDowngradesBuyNeutral
Aug 2015UBSMaintainsBuy
Apr 2015Morgan StanleyUpgradesOverweight

View More Analyst Ratings for FCX
View the Latest Analyst Ratings

Posted-In: Paul Massoud Stifel NicolausAnalyst Color Price Target Analyst Ratings

 

Related Articles (FCX)

Get Benzinga's Newsletters