Boston, MA 07/10/2014 (wallstreetpr) – Vale SA (ADR) (NYSE:VALE) earned a positive recommendation from equity analysts at Barclays. The analysts upgraded the stock to an Equal-weight from Underweight. A number of analysts have also revised their observation on the stock. Analysts at JPMorgan Chase & Co. (NYSE:JPM) maintained an Overweight view on the stock, although they slashed their price target to $19.50 from $21.
At Morgan Stanley, Vale SA (ADR) (NYSE:VALE) preserved its Equal-weight rating with a price target of $15.20. On the average, Wall Street considers the stock a Hold with a 12-month price objective of $17.15.
Exciting is returning to metals company, and Vale SA (ADR) (NYSE:VALE) has not been spared the benefit of positively changing analysts’ sentiments on such stocks.
Market experts expect a big demand for iron worldwide because of the increase in construction projects such as buildings, road and bridges.
Itau Unibanco Holding SA (ADR) (NYSE:ITUB) is preparing to unload its division that is responsible for infrastructure projects especially in the oil and gas sector. The division that has been earmarked for sale represents less than one percent of the bank’s business.
Itau Unibanco (NYSE:ITUB) may fetch about $682 million from the transaction. The business is a high-risk insurance whose main clients include the Brazil oil major Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR). ITUB has disclosed the company it is in talks with for the sale of the asset but media reports indicate that a U.S. insurance company might be in the talk.
Itau Unibanco (NYSE:ITUB) recently suffered a downgrade whereby analysts at Zacks reduced it from an Outperform to Neutral with a price target of $16.
Wall Street remains optimistic on the stock of Banco Bradesco SA (ADR) (NYSE:BBD), maintaining it a consensus Buy rating with price target of $14.63. The company met expectations in its most recent reporting whereby it earned $0.35 per share. Wall Street expects the company to earn $1.49 per share in the current fiscal year.
