Rosenfeld targets a price of 420 pence for the stock. Analyst Cailey Barker, at Numis, was equally positive. "The balance sheet remains strong and the growth profile intact despite the weaker iron ore market. All-in-all, a good set of numbers," he said. Barker notes the achievement of first ore at Yeristovo, and that the firm's logistics and marketing continue to make ground. He said he expects Ferrexpo to remain on track for another 10 million tonnes in production this year.