News Snapshot:
There are similar issues around the company’s green hydrogen-focused Fortescue Future Industries division. In a note last week, JPMorgan said a lack of information on FFI’s project pipeline made it impossible to value the business and to determine the medium-term cash drain. The JPMorgan analysts have scaled back Fortescue’s earnings forecast by 20 per cent on the back of revised iron ore prices. Challenging bridge period Goldman Sachs and others believe Fortescue is at an inflection point with capital allocation and assume the dividend payout ratio will fall to fund Dr Forrest’s ambitious strategy, but he denies this is the...
