Analysts have been eager to weigh in on the Materials sector with new ratings on DuPont de Nemours (DD), Freeport-McMoRan (FCX) and Vale SA (VALE).
DuPont de Nemours (DD)
In a report issued on April 23, Arun Viswanathan from RBC Capital maintained a Buy rating on DuPont de Nemours, with a price target of $89.00. The company’s shares closed last Friday at $76.81.
According to TipRanks.com, Viswanathan is a 5-star analyst with an average return of 12.7% and a 66.7% success rate. Viswanathan covers the Basic Materials sector, focusing on stocks such as Sherwin-Williams Company, Axalta Coating Systems, and Berry Global Group.
Currently, the analyst consensus on DuPont de Nemours is a Moderate Buy with an average price target of $85.43.
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Freeport-McMoRan (FCX)
In a report issued on April 22, Sam Crittenden from RBC Capital maintained a Hold rating on Freeport-McMoRan, with a price target of $39.00. The company’s shares closed last Friday at $36.54, close to its 52-week high of $39.10.
According to TipRanks.com, Crittenden is a 5-star analyst with an average return of 25.7% and a 62.8% success rate. Crittenden covers the Basic Materials sector, focusing on stocks such as Turquoise Hill Resources, First Quantum Minerals, and Nexa Resources SA.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Freeport-McMoRan with a $40.17 average price target, implying a 12.6% upside from current levels. In a report issued on April 20, UBS also downgraded the stock to Hold with a $36.00 price target.
Vale SA (VALE)
RBC Capital analyst Tyler Broda maintained a Buy rating on Vale SA on April 23 and set a price target of $25.00. The company’s shares closed last Friday at $19.66, close to its 52-week high of $19.73.
According to TipRanks.com, Broda is a 4-star analyst with an average return of 7.9% and a 57.1% success rate. Broda covers the Basic Materials sector, focusing on stocks such as Sibanye Stillwater, Anglogold Ashanti, and Gold Fields.
Currently, the analyst consensus on Vale SA is a Strong Buy with an average price target of $23.85, a 21.5% upside from current levels. In a report issued on April 11, Jefferies also reiterated a Buy rating on the stock with a $25.00 price target.
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