Glencore: Canaccord Genuity still a buyer.
(CercleFinance.com) - Canaccord Genuity maintains its "buy" rating on Glencore with a target price of 375 pence after the mining company performed well in the first six months of the year.
"While Glencore delivered a good set of first-half results, we do not think there are many changes to its investment story at this stage", the Canadian broker writes in a reaction note.
"The bottom line (...) is tracking ahead of expectations, which could be a small positive for the year-end distribution", Canaccord says.
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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.
"While Glencore delivered a good set of first-half results, we do not think there are many changes to its investment story at this stage", the Canadian broker writes in a reaction note.
"The bottom line (...) is tracking ahead of expectations, which could be a small positive for the year-end distribution", Canaccord says.
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.