Business
Is the Fortescue (ASX:FMG) share price an attractive opportunity?
Is the Fortescue Metals Group Limited (ASX: FMG) share price an attractive stock to own?
The broker Ord Minnett certainly thinks so. It has a price target on the iron ore miner of $29, which suggests potential upside of around 40% over the next 12 months.
Ord Minnett believes that the Chinese steel production will continue to remain strong for longer than expected. There’s also the possibility that non-Chinese steel production could make up for any reduction of demand from China.
The broker feels that there’s a good chance that the Fortescue share price could gain investor attention again as the iron ore price remains strong.
However, there are other brokers which don’t have such a positive outlook for the Fortescue share…
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