Will the Recent JP Morgan Cazenove Upgrade Help Glencore PLC (LON:GLEN) Shares This Week?


Glencore PLC (LON:GLEN) Stock Upgrade

In an analyst note revealed to clients on 15 December, JP Morgan Cazenove has raised shares of Glencore PLC (LON:GLEN) stock to a solid “Overweight” and has established a 12 month target price to GBX 160.00. This target is 100.00% from GLEN’s current share price.

From a total of 27 analysts covering Glencore PLC (LON:GLEN) stock, 16 rate it a ”Buy”, 2 a “Sell”, and 9 a ”Hold”. This means that 59% of the ratings are positive. The highest target price is GBX 450 while the lowest target price is GBX 77. The mean of all analyst targets is GBX 162.92 with a 103.65% above today’s (GBX 80) stock price. Glencore PLC was the topic of 165 analyst reports since July 23, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on December 14 with “Sector Performer” rating. Bernstein maintained shares with “Outperform” rating and GBX 145 target share price in a report from a December 7. Deutsche Bank maintained GLEN stock in a recent report from December 11 with “Buy” rating. Morgan Stanley maintained the rating on December 1. Morgan Stanley has a “Equalwt/Attractive” rating and a GBX 153 price target on shares. Finally, Liberum Capital maintained the stock with “Hold” rating in a report issued on a December 10.

The stock decreased 6.29% or GBX 5.37 on December 14, striking GBX 80. Approximately 75.49 million shares of stock traded hands. Glencore PLC (LON:GLEN) has declined 73.06% since May 18, 2015 and is downtrending. It has underperformed by 68.65% the S&P500.

 Will the Recent JP Morgan Cazenove Upgrade Help Glencore PLC (LON:GLEN) Shares This Week?

Glencore plc, formerly Glencore Xstrata Plc, is a Switzerland natural resource company. The company has a market cap of 11.52 billion GBP. The Firm operates in three divisions: Metals and Minerals, which includes copper, nickel, zinc/lead, alloys, alumina/aluminum and iron ore; Energy Products, which includes controlled and non-controlled coal mining and oil production activities and investments in strategic handling, storage and freight equipment and facilities, and Agricultural Products, which focuses on grains, oils/oilseeds, cotton and sugar. It currently has negative earnings. The Company’s operates in Americas, Asia Europe, Africa and Oceania.