There’s a lot to be optimistic about in the Materials sector as 2 analysts just weighed in on Crown Holdings (CCK – Research Report) and Freeport-McMoRan (FCX – Research Report) with bullish sentiments.
Crown Holdings (CCK)
In a report released yesterday, Philip Ng from Jefferies maintained a Buy rating on Crown Holdings, with a price target of $134.00. The company’s shares closed last Monday at $108.77, close to its 52-week high of $110.19.
According to TipRanks.com, Ng is a 5-star analyst with an average return of 16.3% and a 73.5% success rate. Ng covers the Basic Materials sector, focusing on stocks such as International Paper Co, Berry Global Group, and Graphic Packaging.
Crown Holdings has an analyst consensus of Strong Buy, with a price target consensus of $123.09, implying a 12.3% upside from current levels. In a report issued on April 5, Merrill Lynch also maintained a Buy rating on the stock with a $123.00 price target.
Jefferies analyst Chris LaFemina reiterated a Buy rating on Freeport-McMoRan yesterday and set a price target of $55.00. The company’s shares closed last Monday at $37.33, close to its 52-week high of $39.10.
LaFemina has an average return of 33.6% when recommending Freeport-McMoRan.
According to TipRanks.com, LaFemina is ranked #1660 out of 7459 analysts.
Currently, the analyst consensus on Freeport-McMoRan is a Moderate Buy with an average price target of $38.20, representing a -1.2% downside. In a report issued on April 5, Raymond James also upgraded the stock to Buy with a $41.00 price target.
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