Glencore (GLEN) Upgraded to Overweight at Morgan Stanley
Morgan Stanley upgraded shares of Glencore (LON:GLEN) to an overweight rating in a report published on Tuesday. They currently have GBX 390 ($5.08) price objective on the natural resources company’s stock, down from their previous price objective of GBX 400 ($5.21).
A number of other research firms have also weighed in on GLEN. Barclays reaffirmed a top pick rating and issued a GBX 400 ($5.21) price objective on shares of Glencore in a research note on Thursday, September 20th. Credit Suisse Group set a GBX 480 ($6.25) price objective on Glencore and gave the stock a buy rating in a research note on Wednesday, September 19th. Liberum Capital raised Glencore to a hold rating in a research note on Tuesday, September 18th. UBS Group set a GBX 380 ($4.95) price objective on Glencore and gave the stock a neutral rating in a research note on Friday, September 14th. Finally, Goldman Sachs Group set a GBX 375 ($4.88) price objective on Glencore and gave the stock a buy rating in a research note on Thursday, September 13th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of GBX 404.56 ($5.27).
LON:GLEN opened at GBX 337.60 ($4.40) on Tuesday. Glencore has a 52-week low of GBX 270 ($3.52) and a 52-week high of GBX 416.91 ($5.43).
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.
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