JP Morgan has upgraded Glencore PLC to 'overweight' with a price target of £7.30 per share, citing expected copper production growth of over 30% from 2026 to 2031. The broker highlights Glencore's marketing and coal businesses as effective hedges against geopolitical risks. Despite recent declines in European metals stocks due to the Iran conflict, JP Morgan sees strong global growth and supply constraints supporting the sector. Glencore is among JP Morgan's top picks for equity returns in late 2026 and 2027.
Glencore's copper production is forecasted by JP Morgan to grow over 30% from 2026 to 2031, with a price target of £7.30 per share. For readers following the Basic Materials sector, here is Pluang's market snapshot as of Oct 14, 2026 17:11 WIB: out of 83 priced US stocks, 42 rose and 34 fell. Notable movers include ALB (Albemarle Corp.) at USD 100.00 with 0% Sell / 100% Buy order activity and a typical hold time of 51 days, TECK (Teck Resources) at USD 65.50 down 2.49%, and SSL (Sasol Ltd. ADS) at USD 15.34 down 1.54%.
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