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Fly News Breaks for May 2, 2016
VALE
May 2, 2016 | 06:52 EDT
BB&T analyst Garrett Nelson upgraded Vale to Buy and established a $10 price target on shares saying shares have finally turned the corner following the better-than-expected Q1 report on higher iron ore price realizations and lower costs per ton. The analyst expects iron price realizations to increase substantially in subsequent quarters and the company will not have to make any additional asset sales and will be able to repay 2016-2018 debt maturities with cash.
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