- Vale (VALE +2.6%) has underperformed other major miners in the past year and now trades at a 30% discount to Australian competitor Rio Tinto in forward P/E - too cheap, according to Morgan Stanley analysts who upgrade shares to Buy with a $17.50 price target.
- The firm forecasts Vale’s return on equity improving to 16% in 2014 from 10% in 2013, as efforts to divest non-core assets and cut costs should finally show up on the bottom line as the Brazilian real stabilizes at a weaker level; Vale's cancellation of its Rio Colorado potash project in Argentina due to the country's turbulent economic and political environment reduced the investment budget by ~$3.7B.
- Last week, J.P. Morgan recommended Vale for its high-quality iron ore.
From other sites
Pre-Market Most Active for Mar 13, 2015 : FXCM, HMC, TVIX, VALE, MMI, WSTC, QQQ, AAPL, XIV, BAC, LL, ERICat Nasdaq.com (Mar 13, 2015)
After Hours Most Active for Mar 9, 2015 : GE, VALE, BAC, DOW, PFE, QCOM, PBR, QQQ, MSFT, CSCO, AAPL, INTCat Nasdaq.com (Mar 9, 2015)
After Hours Most Active for Mar 6, 2015 : VALE, JNPR, CMLP, KKR, BWP, FIG, MSFT, QQQ, MU, AAPL, CSCO, INTCat Nasdaq.com (Mar 6, 2015)
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