Royal Bank Raises Freeport-McMoRan Price Target to $85.00

Freeport-McMoRan's (NYSE:FCX) price target has been raised to $85.00 by Royal Bank Of Canada, up from $73.00. This move indicates a potential upside of 21.79% from the stock's previous close.

The brokerage currently has a 'sector perform' rating on the natural resource company's stock. Other analysts have also weighed in, with Scotiabank increasing their target price to $77.00 and giving the company a 'sector outperform' rating.

Meanwhile, BNP Paribas Exane increased their price objective to $82.00 and gave the company an 'outperform' rating. Barclays raised their price objective from $80.00 to $82.00 and gave the stock an 'overweight' rating.