Deutsche Bank Reiterates Buy Rating for Glencore Xstrata PLC (GLEN)
Glencore Xstrata PLC (LON:GLEN)‘s stock had its “buy” rating restated by Deutsche Bank in a research note issued on Monday, American Banking & Market News reports. They currently have a GBX 375 ($6.18) price target on the stock. Deutsche Bank’s price objective suggests a potential upside of 16.71% from the company’s current price.
Shares of Glencore Xstrata PLC (LON:GLEN) traded down 1.26% on Monday, hitting GBX 321.30. 23,133,940 shares of the company’s stock traded hands. Glencore Xstrata PLC has a 52 week low of GBX 256.05 and a 52 week high of GBX 399.00. The stock has a 50-day moving average of GBX 314.7 and a 200-day moving average of GBX 314.9.
A number of other firms have also recently commented on GLEN. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Glencore Xstrata PLC in a research note to investors on Friday. They now have a GBX 400 ($6.59) price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Glencore Xstrata PLC in a research note to investors on Thursday. Finally, analysts at HSBC initiated coverage on shares of Glencore Xstrata PLC in a research note to investors on Wednesday, January 22nd. They set an “overweight” rating and a GBX 420 ($6.92) price target on the stock. Five research analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of GBX 363.44 ($5.99).
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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