Source - SMW
Liberum Capital has upgraded its recommendation on Glencore (LON:GLEN) to 'hold' from 'sell' stating that the miner should benefit in the long term from changes in Chinese government policy.

The broker added: "They not only raise coal prices, but also make Chinese coal miners even less cost competitive by dropping productivity."

Analysts have raised their target pence to 185 pence a share (from 140 pence).

Meanwhile, Credit Suisse lifted its recommendation on the stock to 'outperform' from 'neutral', increasing its target to 220 pence (from 210 pence), on Monday.

It commented: "Since our downgrade in mid-July the sector has been range bound but the lift in coal prices gives us greater confidence in the deleveraging and FCF generation of Glencore heading in to 2017."

At 2:41pm: (LON:GLEN) Glencore PLC share price was +11.45p at 208.55p