Freeport-McMoRan (NYSE:FCX) Gets PT Boost from Deutsche Bank (NYSE:DB)

Freeport-McMoRan (NYSE:FCX) received a big increase in their price target from Deutsche Bank (NYSE:DB), citing their belief copper will drive the earnings of the company, and will remain strong in 2011.

Freeport has a strong exposure to copper, being the #2 producer in the world, with a 10 percent market share. They are the largest publicly traded copper company in the world.

Their exposure to gold in relationship to revenue for the company is 12 percent.

Deutsche Bank maintains their "Hold" rating on Freeport, but increased their price target on them from $95 to $135. Freeport was trading at $121.78, gaining $1.85, or 1.56 percent, as of 2:08 PM EST.