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.

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

Aerial view of a giant iron ore mine, showcasing the mineral deposits of the company’s Ferrous Minerals segment.

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.

While we acknowledge the potential of VALE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than VALE and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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