Freeport-McMoRan Unusual Options Activity For July 28
Portfolio Pulse from Benzinga Insights
A significant amount of unusual options activity has been observed for Freeport-McMoRan (NYSE:FCX), with a bullish stance taken by a majority of investors. The targeted price range for the company over the last three months is between $38.0 and $65.0. However, Morgan Stanley, Bernstein, and Citigroup have all downgraded their actions on FCX, with price targets of $38, $41, and $46 respectively.
July 28, 2023 | 5:01 pm
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Freeport-McMoRan has seen unusual options activity, with a majority of investors taking a bullish stance. However, the company has been downgraded by Morgan Stanley, Bernstein, and Citigroup.
The unusual options activity indicates a bullish sentiment among investors, which could potentially drive the stock price up. However, the downgrades by Morgan Stanley, Bernstein, and Citigroup could counteract this bullish sentiment, leading to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100