FORTESCUE METALS (FSUMF US $2.93bid; rating OVERWEIGHT; price target lowered from $7.50 to $5) NOTES FROM OCTOBER 21-23 TOURS OF PORT, RAIL, KINGS, FIRETAIL AND CLOUDBREAK MINES; MODELS UPDATED FOR 10% DECLINE IN CHINA’S OUTPUT IN CALENDAR 2015 AT $70 BENCHMARK 11/3/2014
FORTESCUE METALS (FSUMF US $2.93bid; rating OVERWEIGHT; price target
lowered from $7.50 to $5) NOTES FROM OCTOBER 21-23 TOURS OF PORT, RAIL,
KINGS, FIRETAIL AND CLOUDBREAK MINES; MODELS UPDATED FOR 10%
DECLINE IN CHINA’S OUTPUT IN CALENDAR 2015 AT $70 BENCHMARK 11/3/2014