HSBC Boosts Freeport-McMoRan Outlook Amid Surging Copper Market
Banking giant HSBC has upgraded Freeport-McMoRan shares from hold to buy, with a new $50 price target representing 20% upside potential. The move comes as copper prices have surged 23% year-to-date, outpacing the S&P 500’s gains, driven by supply constraints and growing demand from technology sectors.
Banking Giant Upgrades Mining Stock Outlook
Financial services firm HSBC has upgraded its rating for Freeport-McMoRan shares from hold to buy, according to recent reports. Analyst Jonathan Brandt reportedly increased his price target to $50 per share from $43, signaling approximately 20% potential gain ahead based on the analysis.
