FMS – Macquarie rates the stock as Underperform

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In the wake of Flinders’ production report the broker still calculates the Pilbara iron ore project to be sub-economic unless FMS can bring in a funding and development partner and secure access to someone else’s infrastructure. FMS’ go-it-alone strategy requires some $1bn in funding and that provides a major hurdle.

Underperform and 2c target retained.

Sector: Materials.

Target price is $0.02.Current Price is $0.02. Difference: ($0.00) – (brackets indicate current price is over target). If FMS meets the Macquarie target it will return approximately -5% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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