Why AngloGold's 41% Share Price Dip Is An Attractive Entry Point: Analyst
Portfolio Pulse from Nabaparna Bhattacharya
BMO Capital Markets analyst Raj Ray has upgraded AngloGold Ashanti Limited (NYSE:AU) to Outperform from Market Perform, raising the price target to $22 from $19. The analyst is optimistic about the company's corporate reorganization and new portfolio rationalization techniques. AngloGold's share price is down ~41% from its May 2023 peak, which presents a more attractive entry point. The analyst also raised FY23 and FY24 EPS estimates.
September 12, 2023 | 7:09 pm
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AngloGold Ashanti Limited's stock has been upgraded by BMO Capital Markets analyst Raj Ray, who also raised the price target. The company's corporate reorganization and portfolio rationalization are seen as positive moves.
The analyst's upgrade and raised price target indicate a positive outlook for AngloGold Ashanti Limited. The company's corporate reorganization and portfolio rationalization are seen as potential drivers for growth, which could positively impact the stock price.
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