Nomura Securities Maintains a 'Buy' on Vale S.A. (VALE); Q1 Review
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Price: $13.63 -1.23%
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Vale S.A. (NYSE: VALE) price target of $31.00.
Analyst, Curt Woodworth, said, "Vale Reported 1Q12 EPS of $0.74, in line with the Street, but lower than our estimates owing to challenging weather hindering production. On the conference call, we look for additional updates on (1) color on the iron ore market, as Brazil’s iron ore exports in March improved significantly, (2) update on Vale’s ongoing tax dispute with authorities, and (3) if weather has delayed progress at its projects. We view Vale as a structural winner in the iron ore market. It trades at only 4.2x our 2013E EV/EBITDA, well below its historical average of 6.8x."
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 $22.55 yesterday.
Analyst, Curt Woodworth, said, "Vale Reported 1Q12 EPS of $0.74, in line with the Street, but lower than our estimates owing to challenging weather hindering production. On the conference call, we look for additional updates on (1) color on the iron ore market, as Brazil’s iron ore exports in March improved significantly, (2) update on Vale’s ongoing tax dispute with authorities, and (3) if weather has delayed progress at its projects. We view Vale as a structural winner in the iron ore market. It trades at only 4.2x our 2013E EV/EBITDA, well below its historical average of 6.8x."
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 $22.55 yesterday.
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