Bernstein Raises the Firm's PT on Vale S.A (VALE), Keeps a Hold

Vale S.A. (NYSE:VALE) is one of the Most Undervalued International Stocks According to Analysts. On August 14, Bernstein analyst Bob Brackett raised the firm’s price target on Vale S.A. (NYSE:VALE) from $10.8 to $11.5, while maintaining a Hold rating on the stock.

The cautious rating follows the company’s release of mixed second-quarter results. The company delivered revenue of $8.80 billion for the quarter, reflecting an 11.25% year-over-year decrease and short of expectations by $71.04 million. However, the EPS of $0.50 exceeded expectations by $0.14. Management noted that this was mainly due to improved operational and cost performance. Moreover, the sales of Copper and Nickel also aided the performance by improving 17% and 21%, respectively. The company remains on track to meet its 2025 targets.

Vale S.A. (NYSE:VALE) is a Brazil-based mining company that mainly produces iron ore and nickel. It also mines other metals like copper, gold, silver, and platinum group metals.

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Disclosure: None. This article is originally published at Insider Monkey.