AU - Why AngloGold's 41% Share Price Dip Is An Attractive Entry Point: Analyst | Benzinga
BMO Capital Markets analyst Raj Ray upgraded AngloGold Ashanti Limited (NYSE: AU) to Outperform from Market Perform, raising the price target to $22 from $19.
The analyst applauds AngloGold's rationale for the corporate reorganization (re-domiciling to the U.K. and moving the primary listing to the U.S. from South Africa) in terms of targeting a jurisdiction with larger capital pools.
Ray is bullish about AngloGold's new portfolio rationalization techniques, which can be further streamlined into a package of high-value assets with long life, large production, and low costs.
While the upcoming corporate restructuring could still present some uncertainties related ...