Goldman Sachs cuts its price target on Freeport McMoRan (FCX) to $35 from $38 and trims 2013-14...

Goldman Sachs cuts its price target on Freeport McMoRan (FCX) to $35 from $38 and trims 2013-14 EPS estimates to reflect the firm's lower forecast for copper prices. If commodity prices were to disappoint further, Goldman thinks FCX has levers available to pull in its capex budget and protect its balance sheet. Grasberg start-up will be an overhang, but current share prices are seen as a good entry point.

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Comments (2)
  • joegillam
    , contributor
    Comments (813) | Send Message
    I would (will) be glad to see 35 on this. I took on a load of it about $7 a share ago and kick myself every morning just after I get up.
    26 Jun 2013, 08:33 AM Reply Like
  • FreeStateYank
    , contributor
    Comments (803) | Send Message
    I think the analysts don't know quite how to value the oil/gas acquisitions. In part, because some of the potential big finds were just at the point of measuring w/ log tests. If these wells and the surrounding areas are as promising as some believe, it could be a real game changer for FCX. And those trust shares issued to MMR owners will become much more valuable.
    26 Jun 2013, 10:28 PM Reply Like
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