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Fly News Breaks for August 13, 2019
RIO, FSUGY
Aug 13, 2019 | 06:48 EDT
Goldman Sachs analyst Paul Young upgraded Fortescue Metals (FSUGY) to Buy from Neutral with an increased price target of A$9.80. The analyst cites valuation for the upgrade. He thinks iron ore will rebound to $110-$115 per ton in Q4 post Chinese Golden week and recommends investors buy Rio Tinto (RIO) and Fortescue post the recent share price weakness.
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