Fortescue Metals upgraded to Overweight from Equal Weight at Morgan Stanley

Written by Emily J. Thompson, Senior Investment Analyst

Updated: Apr 08 2025

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Morgan Stanley Upgrade: Morgan Stanley has upgraded Fortescue Metals to Overweight from Equal Weight, with a new price target of A$16.60, reflecting a decrease from the previous target of A$18.15.
Iron Ore Outlook: The firm notes that any potential short-term weakness in iron ore prices is already accounted for as they approach FY26, and highlights Fortescue's strong cash generation and improved average iron ore grades due to the ramp-up at Iron Bridge.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.