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VALE

Vale

$11.78

0.03 (0.26%)

08:27
05/24/19
05/24
08:27
05/24/19
08:27

Vale upgraded to Sector Perform at RBC Capital on improved iron ore outlook

As previously reported, RBC Capital analyst Tyler Broda upgraded Vale to Sector Perform from Underperform and raised his price target to $11 from $10. The analyst notes that the stock has had a "challenging" 6-month run, but its valuation has now moved to neutral levels while the near-term outlook for iron ore has also turned "more robust". Broda further cites Vale's recovery in production and "solid cash generation" along with the efforts by the company's CEO to regain its "social license" in Brazil in the wake of its recent tragic accidents.

VALE Vale
$11.78

0.03 (0.26%)

05/24/19
RBCM
05/24/19
UPGRADE
RBCM
Sector Perform
Vale upgraded to Sector Perform from Underperform at RBC Capital
05/24/19
BOFA
05/24/19
UPGRADE
BOFA
Buy
Vale upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill analyst Timna Tanners upgraded Vale to Buy and raised its price target to $15.50 from $14.50 saying the worst of headline risk appears to be behind the company and sees several catalysts ahead.
04/04/19
BMOC
04/04/19
NO CHANGE
Target $13
BMOC
Market Perform
Vale estimates reduced on 'operational challenges' at BMO Capital
BMO Capital analyst Edward Sterck kept his Market Perform rating and $13 price target on Vale but lowered his FY19 EBITDA outlook to $18.5B from $19.9B and his FY20 outlook to $18.1B from $19.8B. The analyst cites the company's recent Q4 results and conference call highlighting "ongoing operational challenges in the ferrous division" with "lower average product grades, reduced premiums, and inflated funding costs." Sterck recommends that investors remain neutral amid ongoing near term uncertainties even though the valuation on Vale relative to competitors looks "compelling".
03/21/19
MAXM
03/21/19
NO CHANGE
Target $10
MAXM
Buy
Seanergy Marine price target lowered to $10 from $37.50 at Maxim
Maxim analyst James Jang lowered his price target on Seanergy Marine (SHIP) to $10 after its Q4 results, saying that while earnings exceeded expectations, his rolled out model to 2021 NAV is also reducing his estimates. The analyst contends that the Vale (VALE) dam collapse will limit iron ore cargo shipments ex-Brazil in 2019 but sees those factors largely impacting only the first half of 2019. Longer term, Jang keeps his Buy rating and says his bullish thesis remains intact.

TODAY'S FREE FLY STORIES

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CYRN

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VEC

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CMBM

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BAX

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FB

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$188.87

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PCG

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KMI

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MU

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, FDX

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FDX

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FDX

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