Glencore: Jefferies still a buyer

(CercleFinance.com) - Jefferies reiterates its 'buy' recommendation on Glencore shares, along with its TP of 450 pence, as one of its 'top picks for 2025', following a year in which the commodities group's shares have significantly underperformed.


What's going to turn things around, especially if we're in an environment where commodity prices are in a range at the moment?, the broker wonders in its summary.

In its opinion, share buybacks would help, and Glencore should have the financial capacity to realise significant capital returns as early as the second half of the year. Other original options could be considered, it continues.


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