JPMorgan Chase & Co. Reaffirms Overweight Rating for Glencore (GLEN)

Glencore (LON:GLEN)‘s stock had its “overweight” rating reaffirmed by equities researchers at JPMorgan Chase & Co. in a research report issued on Thursday. They currently have a GBX 470 ($6.37) price objective on the natural resources company’s stock. JPMorgan Chase & Co.’s price objective points to a potential upside of 15.44% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Jefferies Group restated a “buy” rating and issued a GBX 450 ($6.10) price target on shares of Glencore in a research note on Wednesday, December 13th. set a GBX 420 ($5.70) price target on Glencore and gave the stock a “buy” rating in a research note on Tuesday, October 3rd. Deutsche Bank lifted their price objective on Glencore from GBX 420 ($5.70) to GBX 430 ($5.83) and gave the stock a “buy” rating in a report on Friday, October 13th. Macquarie reaffirmed an “outperform” rating and issued a GBX 400 ($5.42) price objective on shares of Glencore in a report on Tuesday, October 10th. Finally, Goldman Sachs Group set a GBX 400 ($5.42) price objective on Glencore and gave the stock a “buy” rating in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of GBX 399.48 ($5.42).

Glencore (LON GLEN) traded down GBX 0.10 ($0.00) on Thursday, hitting GBX 407.15 ($5.52). The stock had a trading volume of 39,680,526 shares, compared to its average volume of 32,730,000. The stock has a market cap of $58,740.00 and a PE ratio of 3,701.36. Glencore has a 52 week low of GBX 270 ($3.66) and a 52 week high of GBX 413 ($5.60).

ILLEGAL ACTIVITY NOTICE: “JPMorgan Chase & Co. Reaffirms Overweight Rating for Glencore (GLEN)” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/01/21/jpmorgan-chase-co-reaffirms-overweight-rating-for-glencore-glen.html.

About Glencore

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.

Analyst Recommendations for Glencore (LON:GLEN)

Receive News & Ratings for Glencore Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glencore and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply