Jefferies Group Reiterates Buy Rating for Glencore PLC (GLEN)
Glencore PLC (LON:GLEN)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group in a research report issued to clients and investors on Thursday. They currently have a GBX 430 ($7.24) price target on the stock. Jefferies Group’s price target suggests a potential upside of 19.43% from the stock’s previous close.
Glencore PLC (LON:GLEN) traded down 0.49% during mid-day trading on Thursday, hitting GBX 358.30. 20,381,370 shares of the company’s stock traded hands. Glencore PLC has a 52-week low of GBX 277.027 and a 52-week high of GBX 379.45. The stock’s 50-day moving average is GBX 348.5 and its 200-day moving average is GBX 328.9. The company’s market cap is £47.015 billion.
GLEN has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Glencore PLC in a research note on Wednesday. They now have a GBX 400 ($6.73) price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Glencore PLC in a research note on Tuesday. They now have a GBX 400 ($6.73) price target on the stock. Finally, analysts at Bank of America downgraded shares of Glencore PLC to an “underperform” rating in a research note on Monday. They now have a GBX 320 ($5.38) price target on the stock. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Glencore PLC presently has an average rating of “Hold” and an average price target of GBX 361.44 ($6.08).
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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