Can you believe the Zacks' analyst about two months ago revised his FCX price target down to about $22 per share? I don't know how these analysts keep their jobs. They do a terrible disservice to retail investors. I track these forecasts and their collective track records are simply awful.
cornbeef, the reason they "appear" to be so misguided is that they do the opposite of what they forecast. If they lower the price, they go long on the dip. If they raise the price estimate, they short the stock on the strength. They are crooks. You have to learn to play their crooked game. : )