BUZZ-Wells Fargo boosts Freeport-McMoRan PT as copper outlook brightens; shares up
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Wells Fargo has increased its price target for Freeport-McMoRan to $55, citing a positive outlook on copper prices. The stock rose 1% to $51.12 premarket. The new target suggests an 8.6% upside. Despite potential production issues at the Grasberg mine, supply constraints may keep the copper market tight. Trade policy, including U.S. copper import tariffs, could pose risks. Currently, 18 out of 23 brokerages rate the stock as a 'buy' or higher.
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