FMG 0.97% $22.97 fortescue metals group ltd

I couldn't find the original newswire but found this...

  1. 144 Posts.
    I couldn't find the original newswire but found this online...correction it was target price not fair value..

    Macquarie rates FMG as Outperform
    Thursday, May 19, 2016 - 10:45
    On the back of the broker's economics team's reduced interest rates forecasts, the broker has lowered both its A$ forecasts and its assumed risk-free rate by 50bps to 3.25%. A lower A$ improves earnings forecasts for commodity exporters, while a lower rate improves valuations.

    Fortescue's target rises to $3.50 from $3.30. Outperform retained.

    Target price is $3.50 Current Price is $3.11 Difference: $0.39
    If FMG meets the Macquarie target it will return approximately 13% (excluding dividends, fees and charges).
    Current consensus price target is $2.97, suggesting downside of -4.5%(ex-dividends)
    The company's fiscal year ends in June.
    Last edited by Melbgal: 20/05/16
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