Raymond James raises Freeport-McMoRan PT on copper outlook, improved Grasberg operations

Raymond James raises PT on copper miner Freeport-McMoRan FCX.N to $53 from $49, a 3% upside to stock's last close

Brokerage cites updated copper‑price assumptions, improved Grasberg certainty and stronger Indonesia production

Early September, FCX had temporarily halted mining in Indonesia's Grasberg mine after a large flow of wet material blocked access to parts of its underground mine, restricting evacuation routes for seven workers

18 of 23 brokerages rate the stock "buy" or higher, 5 "hold"; median PT is $51.2 - data compiled by LSEG

As of last close, FCX up 35% YTD