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Fortescue Metals Group Ltd (FSUMF): New Sell Recommendation for This Basic Materials Giant

Tipranks - Tipranks - Mon Jan 19, 6:08PM CST

Morgan Stanley analyst Rahul Anand downgraded Fortescue Metals Group Ltd to a Sell today and set a price target of A$19.75.

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According to TipRanks, Anand is a 5-star analyst with an average return of 13.3% and a 57.93% success rate. Anand covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, BHP Group Ltd, and South32.

In addition to Morgan Stanley, Fortescue Metals Group Ltd also received a Sell from Jarden’s Ben Lyons in a report issued on January 14. However, on January 17, TipRanks – OpenAI reiterated a Buy rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).

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Based on Fortescue Metals Group Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of A$8.19 billion and a net profit of A$1.89 billion. In comparison, last year the company earned a revenue of A$8.71 billion and had a net profit of A$2.35 billion

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