Harmony Gold price target raised to ZAR 295 from ZAR 205 at HSBC

HSBC raised the firm’s price target on Harmony Gold (HMY) to ZAR 295 from ZAR 205 and keeps a Hold rating on the shares. The firm says market volatility, tariffs, and recession fears have “catapulted” gold above $3,200 per ounce. However, its scenario analysis indicates risks may be skewed to the downside for the miners in the near term. HSBC sees limited upside in the near-term for the shares.