UBS analyst Myles Allsop upgraded Vale SA (VALE – Research Report) to a Buy today and set a price target of $15.00. The company’s shares closed yesterday at $12.59.
Allsop covers the Basic Materials sector, focusing on stocks such as Anglo American, BHP Group Ltd, and Vale SA. According to TipRanks, Allsop has an average return of 25.5% and a 76.00% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vale SA with a $16.02 average price target.
VALE market cap is currently $54.34B and has a P/E ratio of 6.91.
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Vale SA (VALE) Company Description:
Founded in 1942, Brazil-based Vale SA produces and exports iron ore, pellets, manganese, and iron alloys, which are used as raw materials in steelmaking. It operates through the following segments: Ferrous Minerals, Coal and Base Metals.
