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Glencore: UBS upgrades stock

( - UBS has upgraded its rating on Glencore shares to "buy" (from "neutral"), based on 29% upside potential for the commodities group's stock, relative to its target price, which it has maintained at 560 pence.

"The stock is down >25% from the highs, the balance sheet has never been stronger, the weaker coal price is now discounted..." the broker summarised.

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