Berenberg downgraded Glencore (GLNCY) to Hold from Buy with a price target of $9.30, up from $9.20. The firm believes the company needs to show “operational delivery” before the shares can re-rate higher.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GLNCY:
- Glencore, PPX Mining sing LOI for strategic investment, offtake collaboration
- Glencore price target raised to 400 GBp from 380 GBp at Citi
- Perpetua in discussions with Glencore, others for U.S. antimony, Reuters says
- General Mills reports Q1 beat, Rithm to acquire Paramount Group: Morning Buzz
- Glencore, Vitol to bid for Chevron stake in Singapore refinery, Reuters says