Glencore Buy Calls Are Highest in Two Years After Stock's Plunge
- Almost two-thirds recommend buying FTSE-100's worst performer
- Average price target is 86% higher than current market rate
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Glencore Plc, the commodity trader and miner that’s lost two-thirds of its value this year, may be on the cusp of a rebound if analyst recommendations to investors are any guide.
Of the 31 analysts covering the Swiss company, 65 percent advocate buying its shares, the most since September 2013, according to data compiled by Bloomberg. The average price target of 173.8 pence is 86 percent higher than the current market rate.