AngloGold Ashanti upgraded to Outperform from Market Perform at BMO Capital

BMO Capital analyst Raj Ray upgraded AngloGold Ashanti to Outperform from Market Perform with a price target of $22, up from $19. The stock’s 41% decline since the May peak presents a more attractive entry point, the analyst tells investors in a research note. While AngloGold’s upcoming corporate restructuring could present some uncertainties, there is potential for a high-quality senior gold producer to emerge, says the firm.