Glencore: Société Générale confident before interim results.
(CercleFinance.com) - Societe Generale (SG) analysts are serenely expecting Glencore's interim results tomorrow, 10 August, which should show a marked recovery.
As such, the broker confirms its buy rating on commodity giant's share, along with its 12-month target price target of 400 pence.
SG expects that Glencore, which mainly operates in the mining of industrial metals, coal and commodity trading, will report H1 EBITDA that is up 74% at 7 billion dollars tomorrow. This would be a record for the group, for which EPS would soar from just 2 cents to 16 cents! Indeed, the group, which is based in Baar, Switzerland, should take advantage of upbeat conditions in commodity prices, “especially coal, with the marketing business remaining a reliable source of stable cash flow.”
Moreover, the group is expected to continue to clean its balance sheet steadily.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
As such, the broker confirms its buy rating on commodity giant's share, along with its 12-month target price target of 400 pence.
SG expects that Glencore, which mainly operates in the mining of industrial metals, coal and commodity trading, will report H1 EBITDA that is up 74% at 7 billion dollars tomorrow. This would be a record for the group, for which EPS would soar from just 2 cents to 16 cents! Indeed, the group, which is based in Baar, Switzerland, should take advantage of upbeat conditions in commodity prices, “especially coal, with the marketing business remaining a reliable source of stable cash flow.”
Moreover, the group is expected to continue to clean its balance sheet steadily.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.