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

Tipranks - Tipranks - Thu Feb 26, 6:45PM CST

Morgan Stanley analyst Rahul Anand maintained a Sell rating on Fortescue Metals Group Ltd today and set a price target of A$19.00.

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Anand covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, South32, and Sandfire Resources Limited. According to TipRanks, Anand has an average return of 13.0% and a 57.39% success rate on recommended stocks.

In addition to Morgan Stanley, Fortescue Metals Group Ltd also received a Sell from Jefferies’s Mitch Ryan in a report issued on February 15. However, today, Morgans upgraded Fortescue Metals Group Ltd (Other OTC: FSUMF) to a Hold.

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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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