iron ore price, page-1695

JPM cleaned up on that call



newswire for FMG' ers,,JP Morgan target now 2.20. Credit Suss did similar to AUD banks yesterday and well they went nuts.. Got no view myself but news for your info

DJ Fortescue Dropped to Neutral by JPMorgan -- Market Talk

2145 GMT - JPMorgan drops Fortescue (FMG.AU) to neutral from overweight and cuts price
target to A$2.20/share from A$4.35 to reflect sharply reduced forecasts for iron-ore
prices during the next three years. Despite liking FMG's operational performance,
long-life assets and management, the brokerage expects the commodity price will hit the
stock near term. The shift in price expectations also leads JPMorgan to lower its profit
forecasts for BHP Billiton (BHP.AU) by 10% for fiscal 2015, 23% for FY16 and 19% for
FY17. Its forecasts for Rio Tinto (RIO.AU) are lowered 2%, 32% and 24% for 2014, 2015 and
2016, respectively. It remains neutral on BHP and overweight RIO. ([email protected];
@RobbMStewart)

(END) Dow Jones Newswires
December 08, 2014 16:45 ET (21:45 GMT)
Copyright (c) 2014 Dow Jones & Company, Inc.
Tuesday 09 December 2014 08:45:00.000 AEST

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2. FMG (ASX)
   
   Price at posting:
   $2.66
   Sentiment:
   None
   Disclosure:
   Not Held​

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