Glencore (GLEN) Given New GBX 450 Price Target at HSBC

Glencore (LON:GLEN) had its price target lowered by research analysts at HSBC from GBX 460 ($6.59) to GBX 450 ($6.44) in a report issued on Wednesday. The brokerage presently has a “buy” rating on the natural resources company’s stock. HSBC’s target price would indicate a potential upside of 26.49% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Deutsche Bank reiterated a “buy” rating and set a GBX 450 ($6.44) price target on shares of Glencore in a report on Friday, February 2nd. Goldman Sachs set a GBX 450 ($6.44) price target on Glencore and gave the company a “buy” rating in a report on Tuesday, January 9th. Royal Bank of Canada set a GBX 450 ($6.44) price target on Glencore and gave the company a “buy” rating in a report on Thursday, January 11th. JPMorgan Chase set a GBX 570 ($8.16) price target on Glencore and gave the company a “buy” rating in a report on Monday, February 5th. Finally, AlphaValue upgraded Glencore to a “buy” rating in a report on Thursday, March 8th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of GBX 423.29 ($6.06).

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Shares of GLEN stock opened at GBX 355.77 ($5.09) on Wednesday. Glencore has a 12 month low of GBX 270 ($3.87) and a 12 month high of GBX 416.91 ($5.97).

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About Glencore

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.

Analyst Recommendations for Glencore (LON:GLEN)

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