UPDATE: Morgan Stanley Upgrades Vale SA on Compelling Risk-Reward
February 05, 2014 at 10:12 AM EST
In a report published Wednesday, Morgan Stanley analyst Carlos De Alba upgraded the rating on Vale SA (NYSE: VALE ) from Equal-Weight to Overweight, but lowered the price target from $18.00 to $17.50. In the report, Morgan Stanley noted, “We see 33% upside to our price target, with a 3:1