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Actionable news in FCX: FreePORT-MCMORAN Inc,

Freeport-McMoRan (FCX) Stock Climbs on Ratings Upgrade

NEW YORK (TheStreet) -- Freeport-McMoRan (FCX) stock is up 2.13% to $11.28 in pre-market trading on Tuesday after Jefferies upgraded shares to "buy" from "hold."

The firm increased its price target to $15 from $12.50 on the stock.

The ratings upgrade reflects Freeport's accretive asset sales, the firm wrote in a note.

These transactions include the sale of its Tenke copper mine for about $2.65 billion last week, Jefferies noted. Freeport has announced $4.2 billion in total asset sales so far this year.

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