FORTESCUE METALS (FSUMF US $5.29; OVERWEIGHT; price target held at $9/share) HIGH DECEMBER OPERATING RATES DRIVE HIGHER ESTIMATED 2012 EARNINGS, WHILE HIGHER INTEREST EXPENSE SLIGHTLY LOWERS FUTURE EARNINGS 1/18/2012

FORTESCUE METALS (FSUMF US $5.29; OVERWEIGHT; price target held at
$9/share) HIGH DECEMBER OPERATING RATES DRIVE HIGHER ESTIMATED
2012 EARNINGS, WHILE HIGHER INTEREST EXPENSE SLIGHTLY LOWERS
FUTURE EARNINGS 1/18/2012