Analyst Foresees Potential IPO For Vale's Base Metals Business, Upgrades Stock
Portfolio Pulse from Lekha Gupta
RBC Capital Markets analyst Tyler Broda upgraded Vale SA (NYSE: VALE) to Outperform from Sector Perform and increased the price target to $15 from $13. Broda believes higher iron ore prices and positive expectations on stimulus can boost share price, and foresees a potential IPO for Vale's base metals business.
June 06, 2023 | 6:52 pm
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Vale SA upgraded to Outperform by RBC Capital Markets analyst, with a raised price target of $15. Higher iron ore prices and positive stimulus expectations may boost share price, and a potential IPO for base metals business is foreseen.
The upgrade to Outperform and the increased price target by RBC Capital Markets analyst Tyler Broda indicate a positive outlook for Vale SA. Higher iron ore prices and positive expectations on stimulus can boost the share price. Additionally, the potential IPO for Vale's base metals business could further increase the company's value in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100