(CercleFinance.com) – Glencore rose by more than 2% in London, benefiting from an analysis by Barclays which reiterated its ‘overweight’ recommendation and its price target of seven pounds sterling on the title, its favorite value in the sector, which he sees as the most obvious ESG (Environmental, Social and Governance) improvement case.
‘Yet investors continue to ignore the multiples and yields offered, partly reflecting retrospective ESG concerns’, judges the broker in its note on the group of raw materials.
“We argue that these concerns are less relevant going forward, given the structural changes made over the past 18 months, and we point to others to come,” Barclays continues.
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