Seeking Alpha

Vale (VALE +4%) rallies on better than expected Q3 EBITDA of $3.7B, helped by stronger iron ore...

Vale (VALE +4%) rallies on better than expected Q3 EBITDA of $3.7B, helped by stronger iron ore sales volume and higher realized iron ore prices. But analysts are split on the stock: Credit Suisse thinks the current premium is unwarranted in the face of an uncertain macro recovery. Citi is more bullish, calling the Q3 beat the best since 2008, with both prices and costs better than expected.
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