Freeport McMoran (FCX) Message Board

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Gold/Mining/Energy : Freeport McMoran (FCX)

FCX 41.72

-1.1%

3:59 PM EDT

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From: Lynn	4/23/2008 11:41:54 AM
	of 141

10:52 AM S&P MAINTAINS HOLD OPINION ON SHARES OF FREEPORT MCMORAN COPPER & GOLD (S&P) FCX posts Q1 EPS of $2.64 vs. $2.00 on a 153% sales gain, handily exceeding our $1.92 estimate on better-than-expected margins. Sales and EPS also benefited from sharply higher prices for copper and gold. On a slightly more optimistic outlook for the copper price and with production expected to rise in '08's second half, we raise our EPS estimate for this year to $10.24 from $8.49 and our 12-month P/E-based target price to $125 from $102. FCX's long-term EPS should rise on increased secular demand for base metals and a generally rising gold price.

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