J P Morgan Chase & Co Reiterates “GBX 450” Price Target for Glencore (GLEN)
Glencore (LON:GLEN) has been given a GBX 450 ($6.06) target price by equities researchers at J P Morgan Chase & Co in a report issued on Thursday. The brokerage presently has a “buy” rating on the natural resources company’s stock. J P Morgan Chase & Co’s target price suggests a potential upside of 25.93% from the stock’s previous close.
A number of other research firms have also recently weighed in on GLEN. Barclays increased their price target on Glencore from GBX 400 ($5.38) to GBX 430 ($5.79) and gave the stock an “overweight” rating in a report on Tuesday, October 24th. Macquarie reiterated a “buy” rating on shares of Glencore in a report on Monday, November 6th. Credit Suisse Group increased their price target on Glencore from GBX 397 ($5.34) to GBX 445 ($5.99) and gave the stock an “outperform” rating in a report on Thursday, October 26th. Liberum Capital cut 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 report on Thursday, October 26th. Finally, Goldman Sachs Group set a GBX 400 ($5.38) target price on Glencore and gave the company a “buy” rating in a report on Wednesday, October 18th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of GBX 396.43 ($5.34).
Glencore (LON GLEN) traded up GBX 3.35 ($0.05) during midday trading on Thursday, hitting GBX 357.35 ($4.81). The stock had a trading volume of 37,799,500 shares, compared to its average volume of 36,220,000. Glencore has a fifty-two week low of GBX 260.50 ($3.51) and a fifty-two 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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