Glencore (GLEN) PT Set at GBX 380 by UBS
Glencore (LON:GLEN) received a GBX 380 ($5.11) target price from analysts at UBS in a research note issued on Wednesday, www.boersen-zeitung.de reports. The firm presently has a “neutral” rating on the natural resources company’s stock. UBS’s price objective would suggest a potential upside of 12.76% from the stock’s current price.
GLEN has been the subject of several other reports. Jefferies Group raised their target price on shares of Glencore from GBX 400 ($5.38) to GBX 450 ($6.06) and gave the company a “buy” rating in a research note on Thursday, August 31st. Deutsche Bank reaffirmed a “buy” rating on shares of Glencore in a research note on Wednesday, November 1st. Liberum Capital cut shares of Glencore to a “sell” rating and raised their target price for the company from GBX 285 ($3.84) to GBX 300 ($4.04) in a research note on Thursday, October 26th. Macquarie reaffirmed an “outperform” rating and set a GBX 395 ($5.32) target price on shares of Glencore in a research note on Friday, September 15th. Finally, Morgan Stanley set a GBX 347 ($4.67) target price on shares of Glencore and gave the company a “neutral” rating in a research note on Tuesday, September 26th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Glencore currently has a consensus rating of “Buy” and an average price target of GBX 389.04 ($5.24).
Glencore (GLEN) traded up GBX 3 ($0.04) on Wednesday, reaching GBX 337 ($4.54). 42,178,267 shares of the company traded hands, compared to its average volume of 36,030,000. Glencore has a 52 week low of GBX 260.50 ($3.51) and a 52 week high of GBX 388.25 ($5.23).
Glencore plc is an integrated producer and marketer of commodities, such as metals and minerals, energy products, agricultural products and Corporate and other. The Metals and minerals segment is engaged in copper, zinc/lead, nickel, ferroalloys, alumina/aluminum and iron ore production and marketing.
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