The Rabid Capitalist

Professor Glenn A. Okun

Recent developments on the miners include the following:

BHP:

• Bernstein downgraded the firm to market perform from outperform and lowered its price target to $58 from $60 (9/25);
• UBS upgraded the firm to neutral from sell on low iron ore inventory (10/05);

RIO:

• Morgan Stanley named the company a research tactical idea that should appreciate in value over the next 60 days on iron ore and copper prices (9/21);
• UBS upgraded the firm to neutral from sell on low iron ore inventory (10/05);

VALE:

• UBS upgraded the firm to neutral from sell on low iron ore inventory (10/05);
• Barclays raised its price target to $16 from $15 (10/13).