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Glencore (GLEN): New Buy Recommendation for This Basic Materials Giant

Tipranks - Tipranks - Thu Jan 29, 1:52AM CST

Morgan Stanley analyst Alain Gabriel maintained a Buy rating on Glencore today and set a price target of p570.00.

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Gabriel covers the Basic Materials sector, focusing on stocks such as Rio Tinto, Glencore, and voestalpine. According to TipRanks, Gabriel has an average return of 13.0% and a 62.45% success rate on recommended stocks.

In addition to Morgan Stanley, Glencore also received a Buy from RBC Capital’s Ben Davis in a report issued on January 19. However, today, TipRanks – xAI reiterated a Hold rating on Glencore (LSE: GLEN).

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Based on Glencore’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of p117.4 billion and a GAAP net loss of p655 million. In comparison, last year the company earned a revenue of p117.09 billion and had a GAAP net loss of p233 million

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