AlphaValue/Baader Europe Upgrades Glencore Rating, Price Target Amid Renewed Oil Market Disruption

02:52 AM EDT, 09/17/2026 (MT Newswires) -- AlphaValue/Baader Europe upgraded its rating and price target for Glencore (GLEN.L, GLN.JO), citing recent oil market disruptions stemming from conflict-driven supply halts in Saudi Arabia. "Fundamentally speaking, the Swiss trading-mining giant via its Trading is possibly staring at another near-term windfall opportunity, this time due to re-emerging oil market volatility, which could be followed by rationality eventually being restored in copper markets. Overall, even after a very strong run, we see meaningful upside from hereon as market volatility is the new normal and hence, Glencore remains a preferred sector bet," according to a Wednesday note. As such, the research firm raised the commodity trading and mining company's rating to add from reduce and increased its price target to 6.98 pounds sterling from 6.37 pounds, noting that potential near-term sentiment deterioration from the ongoing legal battle with iron ore trader Radiant World may create a buying opportunity. On the earnings side, analysts raised their full-year 2026 and 2027 EPS projections to $0.67 and $0.46, respectively, from $0.47 and $0.43. AlphaValue/Baader Europe sees the Saudi oil supply shocks as a setup for Glencore's trading arm to report "exceptional" second-half earnings, leveraging its storage and freight capacity to drive a "material" upward EPS reset for 2026. From 2027 onwards, growing industrial mining volumes, particularly in copper, are expected to cushion group earnings as market volatility subsides.