Vale Upgraded to Outperform at RBC Capital
<p>RBC Capital analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/VALE'>Vale S.A. (NYSE:VALE)</a> to Outperform from Sector Perform, setting a new price target of $15.00 (previously $13.00). The firm anticipates a further decline in iron ore prices to reach cost support levels of $75-$80/t in the upcoming years. </p>
<p>Despite the unfavorable impact on Vale and its iron solutions business, the analysts mentioned that the current price reflects a long-term iron ore value of approximately $75/t. Given its recent underperformance, Vale is well-positioned to benefit from a potential sector rebound driven by stimulus expectations. Additionally, the analysts noted that the sale of its base metals stake could initiate a series of positive catalysts.</p>

NYSE:VALE