VALE (VALE $13.83, Rating OVERWEIGHT, Price Target cut to $15 from $22) CONVERSIONS TO PELLETS TO UPGRADE QUALITY AND PRICING; SEVERE CUTS DUE TO LOSSES IN FERTILIZER & COAL, LESS COPPER GROWTH, LESS NICKEL OUTPUT AND IRON ORE COMPETITION 8/10/2014
VALE (VALE $13.83, Rating OVERWEIGHT, Price Target cut to $15 from $22)
CONVERSIONS TO PELLETS TO UPGRADE QUALITY AND PRICING; SEVERE
CUTS DUE TO LOSSES IN FERTILIZER & COAL, LESS COPPER GROWTH, LESS
NICKEL OUTPUT AND IRON ORE COMPETITION 8/10/2014