Vale (BVMF:VALE3; NYSE:VALE) Steady as BofA Assesses Possible 5% Capital-Return Reserve
Shares of Vale S.A. inched up after BofA Securities downgraded the miner to Neutral. The company’s ADRs rose 0.4% to $14.89 in late afternoon trading. BofA also reduced its price target to $16 from $18.
