Market Overview

Brazil's Vale Gets Vetr Upgrade Despite Political Unrest

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The Vetr crowd upgraded its rating for Vale SA (ADR) (NYSE: VALE) on Friday from 4 stars (Buy), issued four days ago, to 5 stars (Strong Buy). Crowd sentiment at the time of the upgrade was largely positive, with 90 percent of Vetr user ratings bullish.

Vetr's upgrade follows turmoil in the metal manufacturer's home country after a scandal involving Brazilian President Michel Temer allegedly accepting bribes generated calls for impeachment among many in the government. The scandal sent shares down by about a dollar upon Thursday's market open. However, Vale's stock rebounded quickly over Friday's session, returning to around its Wednesday close level of $8.50.

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Currently, the Vetr crowd's average target price on Vale is up at $9.51, which is above the average analyst target price of $8.63. Less than 2 percent of Vetr users are holding VALE in their watch lists.

Latest Ratings for VALE

DateFirmActionFromTo
Jul 2020RBC CapitalMaintainsOutperform
Jul 2020BarclaysMaintainsOverweight
May 2020RBC CapitalUpgradesSector PerformOutperform

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Posted-In: VetrUpgrades Crowdsourcing Analyst Ratings

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