Analysts have been eager to weigh in on the Materials sector with new ratings on Fortescue Metals Group Ltd (FSUMF – Research Report) and Rio Tinto Limited (RTNTF – Research Report).
Fortescue Metals Group Ltd (FSUMF)
Morgan Stanley analyst Rahul Anand maintained a Sell rating on Fortescue Metals Group Ltd today and set a price target of A$16.45. The company’s shares closed last Thursday at $15.50, close to its 52-week high of $16.15.
According to TipRanks.com, Anand is a 5-star analyst with an average return of
Fortescue Metals Group Ltd has an analyst consensus of Moderate Sell, with a price target consensus of $12.30, implying a -23.3% downside from current levels. In a report issued on July 19, Citi also downgraded the stock to Sell with a A$19.40 price target.
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Rio Tinto Limited (RTNTF)
Goldman Sachs analyst Paul Young maintained a Buy rating on Rio Tinto Limited on July 26 and set a price target of A$126.90. The company’s shares closed last Thursday at $78.76.
According to TipRanks.com, Young is a 5-star analyst with an average return of
Currently, the analyst consensus on Rio Tinto Limited is a Hold with an average price target of $75.99, representing a -5.0% downside. In a report issued on July 12, Morgan Stanley also maintained a Buy rating on the stock with a A$124.00 price target.
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