Freeport McMoRan weakness would be buying opportunity, says Cowen Cowen believes Freeport McMoRan (FCX) will need to increase its bid for Plains Exploration & Production (PXP) in order to obtain a favorable shareholder vote. The higher bid may cause near-term weakness in Freeport which would create a buying opportunity. Shares of Freeport are Buy rated with a $45 price target.
News For FCX;PXP From The Last 14 Days
Check below for free stories on FCX;PXP the last two weeks.
Freeport McMoRan cuts Grasberg mine workforce 'modestly,' WSJ reports Freeport-McMoRan has "modestly" cut the workforce at its Grasberg mine, CEO Richard Adkerson tells the Wall Street Journal. The cuts come as a tax dispute with Indonesia's government drags on. Reference Link