The corona vaccine should have a positive effect on economic development. These effects should be felt at Glencore. The greater dynamism in e-mobility is also important for the raw materials group.
The analysts at Independent Research see Glencore as having a promising future. They expect adjusted earnings per share of $ 0.10 in 2020 (old: $ 0.08). For the coming year, the forecast goes up from $ 0.16 to $ 0.21.
Glencore’s stock has risen 26 percent in four weeks. Therefore, the experts downgrade the paper. So far there has been a buy recommendation for the shares of Glencore, the price target was 178.00 GBp. In the new analysis, a hold recommendation is made for Glencore shares. At the same time, the target price increases to 217.00 GBp.
On December 4th there is a capital market day at Glencore. It is unclear whether there will be any surprising announcements there.
In London, Glencore’s shares fell 1.3 percent to 208.80 GBp at noon.