Deutsche Bank Lowers Glencore PLC Price Target to GBX 411 (GLEN)
Equities research analysts at Deutsche Bank cut their price target on shares of Glencore PLC (LON:GLEN) from GBX 415 ($6.98) to GBX 411 ($6.91) in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective indicates a potential upside of 29.25% from the company’s current price.
GLEN has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Glencore PLC in a research note on Thursday, June 5th. They now have a GBX 375 ($6.30) price target on the stock. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Glencore PLC in a research note on Tuesday, June 3rd. They now have a GBX 330 ($5.55) price target on the stock. Finally, analysts at Goldman Sachs cut their price target on shares of Glencore PLC from GBX 310 ($5.21) to GBX 295 ($4.96) in a research note on Tuesday, June 3rd. They now have a “neutral” rating on the stock. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of GBX 361.16 ($6.07).
Shares of Glencore PLC (LON:GLEN) traded down 0.62% during mid-day trading on Friday, hitting GBX 318.00. The stock had a trading volume of 17,038,712 shares. Glencore PLC has a 52-week low of GBX 256.05 and a 52-week high of GBX 348.05. The stock has a 50-day moving average of GBX 323.9 and a 200-day moving average of GBX 318.8.
Glencore PLC, formerly Glencore Xstrata Plc, is a diversified natural resource company. The Company operates in three segments: Metals and Minerals, which includes copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore; Energy Products, which includes controlled and non-controlled coal mining and oil production operations and investments in strategic handling, storage and freight equipment and facilities, and Agricultural Products, which focuses on grains, oils/oilseeds, cotton and sugar.
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