fmg forcast $8.33 p/s, page-2

now that is funny...

FMG - Citi rates the stock as Sell, High Risk
BY BROKER NEWS - 14/07/2009

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June quarter production and sales have rebounded strongly from the weather affected and thus poor March quarter. FY09 shipments totalled 27.3mt versus guidance of 26mt.

Management remains bullish on demand from Chinese customers, but in the absence of a benchmark, the broker notes that terms are on shipment-by-shipment basis, and this has it a bit worried.

With the broker remaining bearish on iron ore and predicting a further 16.5% fall in the fines benchmark for JFY10, the Sell call is maintained. Sector: Materials.

Target price is $1.90.Current Price is $3.49. Difference: ($1.59) - (brackets indicate current price is over target). If FMG meets the Citi target it will return approximately -84% (excluding dividends, fees and charges - negative figures indicate an expected loss).