Monday, October 25, 2010

AngloGold Ashanti (NYSE:AU) Upgraded by HSBC

AngloGold Ashanti (NYSE:AU) has been fairly resilient in the wake of the gold correction, and were upgraded by HSBC from "Neutral" to "Overweight."

They've dropped a little, but will rebound extremely quickly as gold prices jump again after taking a temporary breather.

Gold prices started back in the positive slowly Friday, and AngloGold moved in unison with them.

AngloGold closed Friday at $45.89. gaining $0.38, or 0.83 percent. HSBC has a price target of $58 on them, increasing it from $46.

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