Goldman Sachs Lifts Price Target On Vale (VALE) On Tight Iron Ore Market
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Price: $14.23 +2.37%
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
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Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 12 | Down: 15 | New: 40
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Goldman Sachs raised their price target on Vale S.A. (NYSE: VALE) from $43 to $44 while reiterating their Buy rating, saying global seaborne iron ore supply-demand will be tighter in 2012-2013 than we previously forecast.
Analysts at the firm estimate the seaborne market to be in a deficit of 3% in 2012 and on balance in 2013. They expected a surplus only in 2014, estimated at 9% of global demand. The firm raised their China iron ore spot price forecast on CFR basis for 2012/2013 to US$160/US$145 vs US$145/US$110 previously.
For more ratings news on Vale S.A. click here and for the rating history of Vale S.A. click here.
Shares of Vale S.A. closed at $31.88 yesterday.
Analysts at the firm estimate the seaborne market to be in a deficit of 3% in 2012 and on balance in 2013. They expected a surplus only in 2014, estimated at 9% of global demand. The firm raised their China iron ore spot price forecast on CFR basis for 2012/2013 to US$160/US$145 vs US$145/US$110 previously.
For more ratings news on Vale S.A. click here and for the rating history of Vale S.A. click here.
Shares of Vale S.A. closed at $31.88 yesterday.
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