UBS Group Reiterates Neutral Rating for Glencore (GLEN)
Glencore (LON:GLEN)‘s stock had its “neutral” rating reissued by equities research analysts at UBS Group in a report issued on Wednesday, www.boersen-zeitung.de reports. They currently have a GBX 380 ($4.92) price objective on the natural resources company’s stock. UBS Group’s target price suggests a potential upside of 16.49% from the stock’s current price.
Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 550 ($7.12) price objective on shares of Glencore in a research report on Wednesday, May 2nd. Goldman Sachs Group set a GBX 500 ($6.47) price objective on Glencore and gave the company a “buy” rating in a research report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 400 ($5.18) price objective on shares of Glencore in a research report on Wednesday. Citigroup reaffirmed a “buy” rating on shares of Glencore in a research report on Monday, May 7th. Finally, HSBC raised their price objective on Glencore from GBX 381 ($4.93) to GBX 450 ($5.83) and gave the company a “buy” rating in a research report on Thursday, June 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Glencore has an average rating of “Buy” and a consensus price target of GBX 417.65 ($5.41).
Glencore opened at GBX 326.20 ($4.22) on Wednesday, Marketbeat Ratings reports. Glencore has a twelve month low of GBX 270 ($3.50) and a twelve month high of GBX 416.91 ($5.40).
Glencore plc engages in the production, refinement, processing, storage, transport and marketing of metals and minerals, energy products, and agricultural products worldwide. It operates in three segments: Metals and Minerals, Energy Products, and Agricultural Products. The Metals and Minerals segment is involved in smelting, refining, mining, processing, and storing zinc, copper, lead, alumina, aluminum, ferroalloys, nickel, cobalt, and iron ore.
Featured Article: Are Wall Street analysts’ stock ratings worth following?
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.