AngloGold Ashanti price target raised to $37 from $32 at JPMorgan

JPMorgan raised the firm’s price target on AngloGold Ashanti to $37 from $32 and keeps an Overweight rating on the shares. The firm says industrial metal prices “have been quick to react” to China economic policy announcements, up 10% in the last two weeks. The analyst recommends reducing exposure at these levels, saying the metals do not appear to assign significant risk premia to trade-related outcomes, specifically higher tariffs.