RBC Capital Upgrades Vale S.A. (VALE) to Outperform
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Rating Summary:
14 Buy, 12 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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RBC Capital analyst Tyler Broda upgraded Vale S.A. (NYSE: VALE) from Sector Perform to Outperform with a price target of $9.50 (from $9.00).
The analyst comments "Vale is emerging from the Brumadinho tragedy with management reshaping the company's culture. The tailings disaster and its lingering impacts, including its recent guidance downgrade, have weighed on the shares, but also make it inexpensive we think, even when iron ore price resilience turns."
For an analyst ratings summary and ratings history on Vale S.A. click here. For more ratings news on Vale S.A. click here.
Shares of Vale S.A. closed at $7.93 yesterday.
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