BofA analyst Caio Ribeiro downgraded Vale (VALE) to Neutral from Buy with a price target of $18, up from $17. The firm sees a “mismatch” with the shares up 35% year-to-date while iron ore prices are down 7%. BofA sees limited upside in the shares from here given the decline in iron ore prices and declines in steel demand. The stock is already priced in Vale’s near-term potential, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on VALE:
- Cash Flow Mining Giant VALE Braces For Brutal Commodity Cycle
- Moderately bullish activity in Vale with shares up 1.63%
- Vale Files Routine February 2026 Form 6-K with U.S. SEC
- Vale Updates 2026 Cash Flow Sensitivities and US$3.5 Billion Copper CAPEX Plan
- Vale Announces Resignation of Board Member João Luiz Fukunaga