JPMorgan Chase & Co. Reiterates “Overweight” Rating for Glencore Xstrata PLC (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “overweight” rating restated by stock analysts at JPMorgan Chase & Co. in a report issued on Monday, ARN reports. They currently have a GBX 380 ($6.15) target price on the stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 14.37% from the stock’s previous close.
Glencore Xstrata PLC (LON:GLEN) traded down 3.71% on Monday, hitting GBX 332.25. The stock had a trading volume of 28,108,284 shares. Glencore Xstrata PLC has a 52-week low of GBX 218.80 and a 52-week high of GBX 399.00. The stock’s 50-day moving average is GBX 336.2 and its 200-day moving average is GBX 313.6.
Other equities research analysts have also recently issued reports about the stock. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Glencore Xstrata PLC in a research note to investors on Friday, October 25th. They now have a GBX 380 ($6.15) price target on the stock. Separately, analysts at BNP Paribas reiterated an “outperform” rating on shares of Glencore Xstrata PLC in a research note to investors on Thursday, October 24th. They now have a GBX 410 ($6.63) price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore Xstrata PLC in a research note to investors on Thursday, October 24th. They now have a GBX 367 ($5.94) price target on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. Glencore Xstrata PLC has a consensus rating of “Buy” and a consensus price target of GBX 367.51 ($5.95).
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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