BofA Upgrades Vale Amid Iran Conflict Selloff

Vale shares have pulled back ~6% since the Iran conflict began in late February, while iron ore prices have climbed ~8% over the same period. The divergence points to risk-off or company-specific selling despite commodity strength driven by geopolitical concerns in the supply outlook.

Analysis

Vale shares have pulled back ~6% since the Iran conflict began in late February, while iron ore prices have climbed ~8% over the same period. The divergence points to risk-off or company-specific selling despite commodity strength driven by geopolitical concerns in the supply outlook.