HSBC upgraded AngloGold Ashanti to Hold from Reduce with a price target of ZAR 294, up from ZAR 285. The analyst cites valuation for the upgrade after increasing the price target due to a higher ZAR gold price. However, risks to the gold price are strong U.S. dollar, elevated yields and growth in supply, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AU:
- AngloGold Ashanti downgraded to Equal Weight from Overweight at Morgan Stanley
- AngloGold Ashanti reinstated with Overweight, $24 target at JPMorgan
- AngloGold Ashanti reinstated with an Overweight at JPMorgan
- AngloGold Ashanti determines tax payments of $286M due to restructuring
- AngloGold Ashanti completes restructuring resulting in UK corporate domicile