BUZZ-Raymond James raises Freeport-McMoRan PT on copper outlook, improved Grasberg operations
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Raymond James has raised the price target for Freeport-McMoRan (FCX) from $49 to $53, reflecting a 3% upside based on improved copper price forecasts and enhanced operations at the Grasberg mine. The brokerage noted stronger production in Indonesia following a temporary halt due to mining disruptions. Currently, 18 out of 23 brokerages have a 'buy' rating or higher for FCX, with a median price target of $51.2. The stock has increased by 35% year-to-date.
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