Glencore's Trading `Black Box' Leaves Analysts Split on Future
- Slide leaves even analysts with sell rating predicting rally
- No other Stoxx 600 stock has such a wide gap in price targets
What’s Behind Glencore’s Freefall?
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Glencore Plc, the commodity trader that lost about a third of its value Monday, is worth either $98 billion or $26 billion, depending on which analyst you ask.
At Sanford C. Bernstein, price targets published by Paul Gait suggest the Baar, Switzerland-based resource company can rally sevenfold to 450 pence, the top end of predictions tracked by Bloomberg. At the bottom, Nomura Holdings Inc.’s 120-pence forecast implies a market value that is $72 billion lower.