Glencore: Jefferies confirms rating

(CercleFinance.com) - Analysts at Jefferies say that Glencore's share price depends on rising commodity prices and the group's operational stability.

The broker hence confirms its buy rating on the share, with a target price of 300 pence (about 27% upside).

Glencore today organised its annual investor meeting in London. It changed some production, unit cost and capex guidance and provided some longer-term guidelines, although the company made no significant changes to its strategy.

Operational risk remains high, although the broker expects the group's share to perform well due to higher prices for base metals and coal.



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