Glencore: Barclays maintains 'equal weight' rating

(CercleFinance.com) - Barclays resumes its coverage of Glencore shares with an 'equal weight' rating and a target price of 475 pence, believing that "The MT outlook for thermal coal remains attractive, implying strong shareholder returns to come".


"However, ST capital commitments and required balance sheet deleveraging prior to an intended coal spin-off leave shareholder returns relatively muted for 2024/25", the broker warns.


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