Glencore Xstrata PLC Stock Rating Reaffirmed by Sanford C. Bernstein (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “outperform” rating restated by equities researchers at Sanford C. Bernstein in a research report issued on Friday, American Banking & Market News reports. They currently have a GBX 525 ($8.21) price target on the stock. Sanford C. Bernstein’s price objective points to a potential upside of 52.77% from the company’s current price.
A number of other firms have also recently commented on GLEN. Analysts at Deutsche Bank raised their price target on shares of Glencore Xstrata PLC (LON:GLEN) from GBX 375 ($5.86) to GBX 379 ($5.93) in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Glencore Xstrata PLC (LON:GLEN) from GBX 390 ($6.10) to GBX 380 ($5.94) in a research note to investors on Wednesday. They now have an “overweight” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Glencore Xstrata PLC (LON:GLEN) in a research note to investors on Tuesday. They now have a GBX 380 ($5.94) price target on the stock.
One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of GBX 369.13 ($5.77).
Shares of Glencore Xstrata PLC (LON:GLEN) traded down 1.41% during mid-day trading on Friday, hitting GBX 338.80. 20,506,840 shares of the company’s stock traded hands. The stock’s 50-day moving average is GBX 302.7 and its 200-day moving average is GBX 321.4.
Glencore International plc is a holding company. It operates in three segments: metals and minerals, which include zinc, copper, lead, alumina, aluminium, ferro alloys, nickel, cobalt and iron ore, including smelting, refining, mining, processing and storage related operations; energy products, which includes crude oil, oil products, steam coal and metallurgical coal supported by investments in coal mining and oil production operations, ports, vessels and storage facilities, and agriculture products.
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