Copper Shortages Signal Bright Future For Freeport-McMoRan, Alcoa, Buenaventura: Morgan Stanley
AAAlcoa(AA) Benzinga·2024-06-22 02:10

Loading... Loading... Morgan Stanley analyst Carlos De Alba has upgraded Freeport-McMoRan Inc FCX, Alcoa Corp AA, and Compañía de Minas Buenaventura SAA BVN to Overweight, citing persistent copper supply challenges and positive developments within these companies. Freeport-McMoRan De Alba upgrades Freeport stock to Overweight. He expects the company to benefit from higher copper and gold prices, with a 26% upside to a $62 price target. FCX's delivery of the PT-FI smelter and the expected Grasberg mine agree ...