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Glencore: Barclays stays 'overweight'

(CercleFinance.com) - Barclays reiterates its "overweight" recommendation and its target price of seven pounds sterling on Glencore, its favourite share in the sector, considering it the most obvious "improver" in terms of ESG (environmental, social and governance).


"Yet investors continue to ignore the multiples and yield on offer, partly reflecting backward-looking ESG concerns” says the broker in its note on the raw materials group.

"We argue these are less relevant going forward, given structural changes made over the last 18 months, and highlight more to come," Barclays says.

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