copy n paste from MotFooThe company's focus on green energy...

copy n paste from MotFoo

The company's focus on green energy investments has attracted attention. Still, investors are waiting to see if these ventures will provide returns or if Fortescue will choose other commodities to diversify its revenue base. For now, the company's cost-efficiency and focus on iron ore are keeping it on solid ground, Tenna says.

Other analysts have mixed opinions on the outlook for Fortescue shares.

Morgans has retained a buy rating on Fortescue shares with a trimmed price target of $22. According to my colleague James, Morgans is pleased with Fortescue's FY24 results and believes the stock offers attractive value, especially as iron ore prices gradually recover.

On the other hand, Goldman Sachs remains bearish. It reiterated its sell rating and lowered its price target to $15.40.

Goldman cited several concerns, including Fortescue's valuation compared to mining peers and the level of discounts for its lower graded iron ore.

The broker is also cautious about the "ramp-up risks" of Fortescue's Iron Bridge project. Aside from that, it projects Fortescue will lower its dividend: