Fortescue Needs Stronger Prices or Move to Jettison Energy Projects -- Market Talk
Dow Jones
Aug 26
0134 GMT - Fortescue has delivered a good result, with its hematite business, at least, going from strength to strength, says Morgans analyst Adrian Prendergast. "But at [circa] A$20.00 it is hard to see the value upside from here," Prendergast says. Fortescue either needs benchmark iron-ore prices to break above their recent ranges or a definitive move to jettison energy projects, he says. "Our concern is that the fundamentals of FMG's base hematite business is probably too strong, in the near-term at least, for FMG to consider cutting its value-eroding energy ambitions." Morgans has a hold rating on Fortescue. The stock is down 1.7% at A$19.67. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
(END) Dow Jones Newswires
August 25, 2025 21:34 ET (01:34 GMT)
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