Fortescue Metals price target lowered to A$17.20 from A$18.40 at Jefferies

Jefferies analyst Mitch Ryan lowered the firm’s price target on Fortescue Metals (FSUGY) to A$17.20 from A$18.40 and keeps an Underperform rating on the shares after making a mid-quarter update to the firm’s commodity price deck. The firm adjusted its longer term commodity price forecasts for copper, aluminum, PLV met coal, benchmark Newcastle thermal coal and gold and adjusted targets among its Australia metals and mining coverage accordingly.