JPMorgan raised the firm’s price target on AngloGold Ashanti (AU) to $128 from $70 and keeps an Overweight rating on the shares. JPMorgan increased its long-term gold price forecast by 80% to $3,850 per ounce. It remains bullish on the European gold miners stocks and sees over 50% upside to its December 2027 fair values.
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Read More on AU:
- AngloGold Ashanti upgraded to Outperform from Sector Perform at Scotiabank
- Bill Gross says gold has become ‘momentum/meme asset’
- AngloGold Ashanti price target raised to $55 from $38 at HSBC
- December Gold tops $4,000 per ounce, Goldminers higher
- AngloGold Ashanti price target raised to $76 from $57 at Roth Capital