JPMorgan Chase & Co. Increases Glencore (GLEN) Price Target to GBX 470
Glencore (LON:GLEN) had its price objective increased by JPMorgan Chase & Co. from GBX 450 ($6.10) to GBX 470 ($6.37) in a research report released on Thursday morning. The brokerage currently has an overweight rating on the natural resources company’s stock.
Several other equities analysts also recently issued reports on the stock. Macquarie reissued an outperform rating on shares of Glencore in a research note on Wednesday, October 18th. Societe Generale increased their price target on shares of Glencore from GBX 400 ($5.42) to GBX 470 ($6.37) and gave the stock a buy rating in a research note on Thursday, November 9th. Citigroup reaffirmed a buy rating and set a GBX 400 ($5.42) price target on shares of Glencore in a research note on Monday, October 9th. Liberum Capital downgraded shares of Glencore to a sell rating and increased their price target for the stock from GBX 285 ($3.86) to GBX 300 ($4.07) in a research note on Thursday, October 26th. Finally, Goldman Sachs Group reaffirmed a conviction-buy rating and set a GBX 400 ($5.42) price target on shares of Glencore in a research note on Friday, November 24th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company. Glencore currently has a consensus rating of Buy and a consensus price target of GBX 398.61 ($5.41).
Glencore (LON:GLEN) opened at GBX 407.55 ($5.53) on Thursday. The stock has a market cap of $58,530.00 and a P/E ratio of 3,705.00. Glencore has a one year low of GBX 270 ($3.66) and a one year high of GBX 411 ($5.57).
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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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