Glencore (GLEN) Price Target Raised to GBX 420 at Credit Suisse Group

Glencore (LON:GLEN) had its price objective hoisted by equities researchers at Credit Suisse Group from GBX 400 ($5.23) to GBX 420 ($5.49) in a research report issued to clients and investors on Tuesday, Borsen Zeitung reports. The brokerage presently has an “outperform” rating on the natural resources company’s stock. Credit Suisse Group’s target price points to a potential upside of 50.89% from the stock’s current price.

A number of other research analysts also recently weighed in on GLEN. Morgan Stanley dropped their price target on Glencore from GBX 390 ($5.10) to GBX 370 ($4.83) and set an “overweight” rating on the stock in a research note on Wednesday, February 13th. Macquarie reaffirmed an “outperform” rating and set a GBX 370 ($4.83) price target on shares of Glencore in a research note on Thursday, February 21st. Barclays reaffirmed an “overweight” rating on shares of Glencore in a research note on Monday, March 11th. UBS Group reaffirmed a “neutral” rating on shares of Glencore in a research note on Wednesday, May 1st. Finally, Goldman Sachs Group reaffirmed a “neutral” rating and set a GBX 310 ($4.05) price target (down from GBX 320 ($4.18)) on shares of Glencore in a research note on Thursday, May 2nd. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of GBX 355.88 ($4.65).

Shares of LON:GLEN opened at GBX 278.35 ($3.64) on Tuesday. The stock has a market capitalization of $38.00 billion and a PE ratio of 11.60. The company has a debt-to-equity ratio of 77.26, a quick ratio of 0.38 and a current ratio of 1.10. Glencore has a 1 year low of GBX 268.35 ($3.51) and a 1 year high of GBX 409.80 ($5.35).

Glencore Company Profile

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, energy products, and agricultural products. 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.

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Analyst Recommendations for Glencore (LON:GLEN)

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