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UPDATE: Jefferies Reiterates on Freeport-McMoRan Copper & Gold Following Solid Quarter Report

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Freeport-McMoRan: The Turnaround Has Arrived (Seeking Alpha)

In a report published Wednesday, Jefferies analyst Peter Ward reiterated a Buy rating on Freeport-McMoRan Copper & Gold (NYSE: FCX), and raised the price target from $40.00 to $45.00.

In the report, Jefferies noted, “FCX reported a solid quarter operationally with EPS of 87¢ vs. our estimate of 70¢ and the Street estimate of 63¢. Importantly, management remains focused on accelerating de-leveraging through asset sales, JVs and capex cuts. We are raising our 1-year target to $45.”

Freeport-McMoRan Copper & Gold closed on Tuesday at $36.36.

Latest Ratings for FCX

DateFirmActionFromTo
Feb 2016Deutsche BankMaintainsHold
Feb 2016Argus ResearchDowngradesBuyHold
Jan 2016FBR CapitalMaintainsMarket Perform

View More Analyst Ratings for FCX
View the Latest Analyst Ratings

Posted-In: Jefferies Peter WardAnalyst Color Price Target Analyst Ratings

 

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