Vale price target raised to $13 from $12.75 at Barclays

Barclays analyst Amos Fletcher raised the firm’s price target on Vale (VALE) to $13 from $12.75 and keeps an Overweight rating on the shares. The firm is constructive on miners, with upside risks seen to copper prices, stability in iron ore, positioning still very light, a weakening U.S. dollar and expectations growing for a Fed easing cycle, the analyst tells investors in a note ahead of reporting season for the European Metals and Mining group.