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Freeport +1.5% as BMO turns bullish

|About: Freeport-McMoRan Inc. (FCX)|By: , SA News Editor

BMO upgrades Freeport-McMoRan (NYSE:FCX) from Market Perform to Outperform and lifts the target by $5 to $17. FCX has a Bullish average Sell Side rating.

The firm says FCX's 2020 risks have diminished as the transition from surface to underground at the Grasberg mine is progressing ahead of schedule.

BMO says investor focus will shift towards 2021 and 2022 valuation metrics, which the firm sees remaining favorable.

FCX shares are up 1.5% to $13.14.

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