Credit Suisse Group Trims Glencore PLC (GLEN) Target Price to GBX 390
Glencore PLC (LON:GLEN) had its price target cut by Credit Suisse Group from GBX 410 ($5.22) to GBX 390 ($4.97) in a report issued on Wednesday, June 7th, Marketbeat Ratings reports. The firm presently has an “outperform” rating on the natural resources company’s stock. Credit Suisse Group’s target price suggests a potential upside of 38.57% from the stock’s current price.
GLEN has been the subject of several other research reports. HSBC Holdings plc raised their price objective on shares of Glencore PLC from GBX 420 ($5.35) to GBX 435 ($5.54) and gave the stock a “buy” rating in a research report on Wednesday, February 15th. Barclays PLC reissued an “overweight” rating and issued a GBX 390 ($4.97) price target on shares of Glencore PLC in a research report on Tuesday, February 7th. BNP Paribas reissued an “outperform” rating and issued a GBX 405 ($5.16) price target on shares of Glencore PLC in a research report on Wednesday, March 29th. Macquarie reissued an “outperform” rating and issued a GBX 385 ($4.91) price target on shares of Glencore PLC in a research report on Monday, May 15th. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a GBX 340 ($4.33) price target on shares of Glencore PLC in a research report on Wednesday, May 24th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Glencore PLC presently has a consensus rating of “Hold” and a consensus target price of GBX 343.17 ($4.37).
Glencore PLC (LON:GLEN) traded up 1.75% during midday trading on Wednesday, reaching GBX 281.45. 29,208,021 shares of the company’s stock were exchanged. The firm’s 50-day moving average is GBX 288.65 and its 200 day moving average is GBX 304.09. The stock’s market cap is GBX 40.11 billion. Glencore PLC has a 1-year low of GBX 134.05 and a 1-year high of GBX 347.00.
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Glencore PLC Company Profile
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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