---
title: "Vale downgraded at Barclays as valuation gap now closed"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283393486.md"
description: "Barclays downgraded Vale (VALE) to Equal Weight from Overweight with a $17 price target, noting a 35% YTD gain amid flat iron ore prices, leading to a stretched valuation. The EV/EBITDA discount to peers is now at 10%, the tightest since 2020. Vale's current price aligns with an iron ore price of $130/ton, compared to a $107/ton spot price. Barclays anticipates headwinds from valuation and commodity price momentum for Vale's near-term performance."
datetime: "2026-04-20T19:33:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283393486.md)
  - [en](https://longbridge.com/en/news/283393486.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283393486.md)
---

# Vale downgraded at Barclays as valuation gap now closed

Vale (VALE) trades little changed Monday as Barclays downgraded the mining giant to Equal Weight from Overweight with a $17 price target, citing the stock's 35% YTD gain while iron ore prices have remained broadly flat, a divergence the bank said has left the stock’s valuation stretched. Vale's (VALE) EV/EBITDA discount to peers including Rio Tinto...

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