HSBC downgraded Anglo American Platinum to Reduce from Hold with a price target of ZAR 690, down from ZAR 809. The company’s Amandelbult and Mogalakwena turnaround strategies “may face some headwinds,” the analyst tells investors in a research note. The firm cites a weaker operational outlook, increased capex forecasts and a weaker metals price outlook for the downgrade.
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