Analyst Update: Depomed Inc, Charles Schwab Corp, and Freeport-McMoRan Inc

Analysts are weighing in on drugmaker Depomed Inc (NASDAQ:DEPO), financial stock Charles Schwab Corp (NYSE:SCHW), and miner Freeport-McMoRan Inc (NYSE:FCX). Here's a quick roundup of today's brokerage notes on DEPO, SCHW, and FCX.

• DEPO is down 7.7% at $18.97, after UBS downgraded the stock to "neutral" from "buy." These losses come despite news the company just released a new dosage strength for its Lazanda nasal spray, used to treat breakthrough cancer pain. Still, Depomed Inc is seeing support from its rising 60-day moving average, and option traders have taken an unusual liking to call options in recent weeks. By the numbers, more than 2,000 DEPO calls have been bought to open during the past two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), compared to just two puts. 

• SCHW has managed a 1.7% gain to trade at $25.10 -- rising alongside several of its sector peers -- despite price-target cuts from Jefferies (to $34) and Barclays (to $29). The shares are still 24% lower in 2016 after suffering major post-"Brexit" losses, but analysts remain mostly upbeat. Specifically, seven out of 12 brokerage firms recommend buying Charles Schwab Corp, and none give it a "sell" rating. 

• FCX is down 2.5% at $10.62, despite a price-target hike to $11.20 from $9 at UBS. Nevertheless, the stock appears to be in a strong technical position, receiving support from both the round-number $10 level and its rising 100-day moving average. Meanwhile, short sellers continue to target Freeport-McMoRan Inc, with short interest now representing 11.5% of the stock's float, after a 9.4% increase in the last two reporting periods. A bounce from current levels could result in outsized gains for FCX stock, if some of these bears begin to cover their positions. 

For other stocks in analysts' crosshairs, read Analyst Upgrades: Corning Incorporated, Verizon Communications Inc., and Western Digital Corp. and Analyst Downgrades: First Solar, Inc., Bank of America Corp, and Wells Fargo & Co.