Why Fortescue shares were just upgraded by UBS

You're reading a free article with opinions that may differ from The Motley Fool's Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources , and more. Learn More Leading broker UBS has reviewed the situation with Fortescue Ltd (ASX: FMG) shares after it fell materially below its previous price target of $17.30, which was a prediction of a decline at the time of the call. At the time of writing, its sitting at $16.18 after rising more than 2% today. UBS changed its rating on the ASX…