I haven't seen the $10.00 Morningstar SELL recommendation you mention but I have read the $11.00 Goldman Sachs SELL note in detail. Goldman Sachs's view appears to be that FMG will face significant headwinds from lower iron ore prices (after this recent post-lockdown bounce) and remains an unlikely upgrade candidate due to its single-commodity exposure in one region and the strategic uncertainty implied by its eagerness to enter other markets (e.g. renewables). According to Goldman Sachs, FMG also faces significant execution risks at Iron Bridge from increased capex. These research views are those of the analysts who cover the relevant area within Goldman Sachs Australia but if they are right that would means a 36% SP decline from here ($17.27). If the Morningstar SELL recommendation you mention proves right that would be a 42% SP decline from here.
GLTAH
Cheers!
Iron ore price, page-41490
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$18.88 |
Change
-0.210(1.10%) |
Mkt cap ! $58.13B | |||
| Open | High | Low | Value | Volume |
| $19.25 | $19.26 | $18.80 | $114.8M | 6.045M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 2485 | $18.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.91 | 185 | 1 |
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| FMG (ASX) Chart |