Morgan Stanley Downgrades Freeport-McMoRan Amid Copper Market Risk

Morgan Stanley has downgraded Freeport-McMoRan (FCX) from Overweight to Equal Weight while raising its price target to $54, reflecting concerns about the copper equities market's risk-reward balance amid recent strong performance. The revision is influenced by macroeconomic uncertainties and valuation challenges affecting growth prospects in the sector. Analyst consensus remains generally positive, with an average price target of $50.28 and a brokerage recommendation rating indicating an Outperform status. Meanwhile, other stocks like Mettler-Toledo International saw a slight decline in share price despite a broadly positive market session. Market data for other companies such as Archer Daniels Midland and ConocoPhillips are available but do not provide specific news insights in this update.