Copper will be in short supply next year, so Goldman Sachs raises its rating on Freeport McMoRan...

|By:, SA News Editor
Copper will be in short supply next year, so Goldman Sachs raises its rating on Freeport McMoRan (FCX +2.1%) to Buy, with a target price of $94, up from $79. Steel prices, however, will remain “range bound,” but Steel Dynamics (STLD -0.2%) is the “best positioned” U.S. steel maker. Ratings for U.S. Steel (X -1.6%) and Nucor (NUE -0.3%) are cut with lower estimates.