11:50 AM EDT, 04/24/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We increase our 12-month target by $3 to $72, on an EV/EBITDA of 6.8x our 2027 EBITDA estimate, a discount relative to FCX's three-year avg. forward EV/EBITDA of 7.3x, which we think is warranted given the delays in ramping back up previously shuttered production at Grasberg. Given the strong copper and gold price appreciation, we raise our 2026 EPS estimate by $0.29 to $2.85 and our 2027 EPS forecast by $0.80 to $4.00. FCX secured a critical MOU with Indonesia to extend Grasberg operating rights beyond 2041, providing long-term visibility for this world-class, high-grade copper-gold asset. While the Grasberg ramp-up faces near-term delays due to material handling challenges from wet ore conditions, management has identified engineering solutions expected to restore production by mid-2027. FCX's organic growth pipeline is compelling, including innovative leaching technologies targeting 800M lbs of incremental copper production, a potential Baghdad expansion doubling capacity, and El Abra expansion in Chile.