Jefferies on Vale S.A. (VALE): 'Upward, Onward and Undervalued'

Jefferies analyst Christopher LeFemina reiterated a Buy rating and $15.00 price target on Vale S.A. (NYSE: VALE).

The analyst comments "At its annual Vale Day in London today, Vale management discussed the company's operational upside and organic growth in detail. Delivering on these targets - especially in copper - would lead to significant earnings upgrades, as would a resilient iron ore price. A normalized FCF yield of 10%+ should imply large capital returns (dividends and share repurchases) even if commodity prices don't go higher. Reiterate Buy on Vale as one of our top picks."

For an analyst ratings summary and ratings history on Vale S.A. click here. For more ratings news on Vale S.A. click here.

Shares of Vale S.A. closed at $12.69 yesterday.

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