Glencore is a top sector pick for Citi after standout performance Proactive uses images sourced from ShutterstockCiti has raised its price target for Glencore PLC (LSE:GLEN) to 780p, naming the commodities group its top large-cap pick as another standout performance from its marketing arm strengthens the investment case. Attention is now shifting towards growth, Citi highlighted in a note, with Glencore increasing capital expenditure behind a copper strategy targeting a doubling of production over the next decade, which Citi described as a compelling growth narrative. Citi highlighted that Glencore delivers with capital efficiency that many investors continue to underappreciate. Glencore's industrial business also performed, Citi noted, with support from higher commodity prices, more than offsetting the miner's cost inflation. Crucially, according to Citi, additional investment should still leave "ample room for significant shareholder returns".