Vale S.A. (NYSE:VALE) ranks among the best cheap rising stocks to invest in now. On September 16, Scotiabank raised Vale S.A. (NYSE:VALE) from Sector Perform to Sector Outperform, with a $14 price target. The upgrade comes after Scotiabank recently visited Vale’s Brucutu and Capanema mines, where presentations and conversations with management revealed the company’s long-term strategy.
Pixabay/Public Domain
Scotiabank emphasized Vale’s capacity to expand its iron ore sales besides China while retaining excellent pricing conditions through improved product flexibility, an approach that is already increasing the company’s price realization.
Although the bank is still hesitant about the prospects for green steel in the immediate future, it believes Vale S.A. has the potential for profit when the decarbonization movement picks up speed.
Vale S.A., based in Rio de Janeiro, Brazil, and its subsidiaries produce and sell iron ore and iron ore pellets used as raw materials in steelmaking in Brazil and abroad.
READ NEXT: 10 Best Magic Formula Stocks for 2025 and 10 Best Retirement Stocks to Buy According to Hedge Funds.
This article is originally published at Insider Monkey.
