Deutsche Bank Maintains Buy On Freeport-McMoRan Ahead Of Earnings; Sees 88% Upside
In a research note sent to investors today, Deutsche Bank analyst Jorge Beristain maintained a Buy rating on Freeport-McMoRan (NYSE:FCX) with a $36 price target, as the company is scheduled to report its fourth-quarter earnings results tomorrow (1/27) before market open. Beristain’s price target implies an upside of 88% from current levels.
The analyst briefly commented: “We expect Freeport-McMoRan to report 4Q14 adjusted diluted EPS of $0.30 vs. $0.64 in 3Q14, with operating results and EPS primarily impacted by lower realized prices and volumes for copper and gold. Our 4Q14E EPS compares to Thomson One consensus of $0.35 (-5c in past 2 weeks).”
Freeport-McMoRan Inc., a natural resource company, is engaged in the acquisition of mineral assets, and oil and natural gas resources.