Analysts Raise Targets for Freeport‑McMoRan on Copper Demand Thesis

Overview

• Barclays opened formal coverage with an Overweight rating and a $77 price target, signaling confidence in Freeport‑McMoRan’s long-term outlook.
• UBS analyst Daniel Major lifted the firm’s price target to $75 from $74 while keeping a Buy rating, adding to the recent wave of positive research notes.
• Analysts point to Freeport’s large copper production as the core reason it should benefit from growth in electrification, electric vehicles, charging networks, and grid upgrades.
• Operational risks remain visible at the Grasberg complex in Indonesia, where recovery has been slower than expected and throughput is running below full capacity with a multiyear ramp planned.
• Market write‑ups note a strong five‑year EPS forecast used to support bullish calls but emphasize that ratings and targets reflect analyst views rather than guarantees and could shift with copper market or operational developments.