Scotiabank Downgrades Freeport-McMoRan to Sector Perform, Announces $52 Price Target
Portfolio Pulse from Benzinga Newsdesk
Scotiabank has downgraded Freeport-McMoRan from Sector Outperform to Sector Perform, setting a price target of $52.
September 30, 2024 | 1:48 pm
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Scotiabank has downgraded Freeport-McMoRan from Sector Outperform to Sector Perform, with a new price target of $52. This downgrade may influence investor sentiment and impact the stock's short-term performance.
The downgrade from Sector Outperform to Sector Perform by Scotiabank suggests a less optimistic view on Freeport-McMoRan's performance. The $52 price target indicates a specific valuation expectation, which could lead to a negative short-term impact on the stock price as investors adjust their positions based on this new information.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100