Morgan Stanley Reiterates Overweight on Freeport McMoran - Freeport-McMoRan (NYSE:FCX)

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Morgan Stanley is out with a research report on Freeport McMoran (NYSE: FCX) and is reiterating its Overweight rating and $43 price target on shares.In a note to clients, Morgan Stanley writes, "Earnings expectations (down 21% from peak) look more reasonable. FCX has minimized the earnings impact of strikes by increasing mining from high-grade zones. Recent strength in copper data supports our $3.80 forecast for 2012. FCX shares pricing $3.30 copper vs. spot at $3.70."Shares of FCX gained 5 cents on Friday to close at $42.80.

27% profits every 20 days?

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