Nomura Securities Reiterates a 'Buy' on Vale S.A. (VALE); Adjusting Estimates After Q1 Review
Tweet
Share
E-mailGet Alerts VALE Hot Sheet
Price: $14.61 +2.67%
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
11 Buy, 15 Hold, 2 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Nomura Securities reiterates a 'Buy' on Vale S.A. (NYSE: VALE) price target of $31.00.
Analyst Curt Woodworth, said, "Iron ore fundamentals positive as China macro improves; micro risks diminishing. We believe the micro risks affecting Vale including weather-related production disruptions, uncertainty regarding future tax liabilities, and permitting risk have been the key driver of share price underperformance relative to iron ore YTD. Vale shares are down 9% in the past three months vs. a 7% rise in iron ore. Looking forward, we see micro risks at Vale diminishing, as production should improve and as demand stabilizes. 2012E/2013E EPS from $3.55/$4.25 to $3.50/$3.80."
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 $22.78 yesterday.
Analyst Curt Woodworth, said, "Iron ore fundamentals positive as China macro improves; micro risks diminishing. We believe the micro risks affecting Vale including weather-related production disruptions, uncertainty regarding future tax liabilities, and permitting risk have been the key driver of share price underperformance relative to iron ore YTD. Vale shares are down 9% in the past three months vs. a 7% rise in iron ore. Looking forward, we see micro risks at Vale diminishing, as production should improve and as demand stabilizes. 2012E/2013E EPS from $3.55/$4.25 to $3.50/$3.80."
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 $22.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- Deere (DE) PT Lowered to $728 at UBS as Agricultural Machinery Cycle Gets Closer
- Benchmark Reiterates Buy Rating on NVIDIA (NVDA), Updates Estimates
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
