Vale upgraded to Outperform from Sector Perform at RBC Capital

RBC Capital analyst Ben Davis upgraded Vale (VALE) to Outperform from Sector Perform with a price target of $14.20, up from $11. The firm says the company is positioned to be a “clear winner” from a slower Simandou ramp-up. Value should see above-peer shareholder returns and its base-metals catalysts will drive a re-rating of the shares, the analyst tells investors in a research note. RBC names Glencore and Vale its preferred diversified miners heading into 2026.