B of A Securities Downgrades Vale to Neutral, Lowers Price Target to $13
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Caio Ribeiro downgraded Vale (NYSE:VALE) from Buy to Neutral and reduced the price target from $20 to $13, indicating a more cautious outlook on the stock.
April 09, 2024 | 11:51 am
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Vale's stock rating was downgraded from Buy to Neutral by B of A Securities, and its price target was lowered from $20 to $13.
The downgrade from Buy to Neutral and the reduction in price target from $20 to $13 by a significant analyst at B of A Securities suggests a more cautious or bearish outlook on Vale's stock. This could lead to a negative short-term impact on the stock price as market participants adjust their expectations based on this new analysis.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100