Market Overview

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

Share:
Related FCX
Freeport-McMoRan Shares Tumbling Again After Being Turned Back At Resistance
Benzinga's M&A Chatter for Thursday May 14, 2015
Commodities Today: Markets Calm Ahead Of Holiday But Some Oil Names Are Rallying (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
Apr 2015Morgan StanleyUpgradesOverweight
Apr 2015CitigroupMaintainsBuy
Apr 2015CitigroupMaintainsBuy

View More Analyst Ratings for FCX
View the Latest Analyst Ratings

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

 

Related Articles (FCX)

Around the Web, We're Loving...