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Glencore's price target raised on strong earnings and new European energy deal

Analyst Insights
30 Jul 2026
Alex Lavoie
View Source
Bullish
pluang ai news

RBC Capital upgraded Glencore's price target to 610 GBp and maintained an "Outperform" rating, reflecting confidence in the company's growth. Glencore secured a key processing deal with HES International to supply Germany's Wilhelmshaven refinery, expanding its footprint in the European energy market. The company's marketing division expects adjusted earnings to jump to $3.3 billion in H1, up from $1.4 billion last year, signaling improved profitability. This positive momentum has driven Glencore's stock price up 4.76% to $14.52, highlighting strong investor interest.

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