CS upgrades to Outperform Globe says Silver Wheaton boosted to "outperform"
Silver Wheaton Corp (C:SLW)
Shares Issued 440,004,944
Last Close 6/30/2016 $30.41
Monday July 4 2016 - In the News
The Globe and Mail reports in its Friday edition that Credit Suisse has raised its gold price forecast for the second half of the calendar year by 8 per cent to $1,413 (U.S.) per ounce and 10 per cent for 2017 to $1,450 (U.S.). The Globe's David Leeder writes that its silver projections rose 12 per cent to $18.75 (U.S.) per ounce for the second half and 15 per cent to $19.03 (U.S.) per ounce in 2017. Anticipating silver equity performance to continue, Credit Suisse analyst Ralph Profitti upgraded Silver Wheaton ($30.41 (Canadian)) to "outperform" from "neutral" with a target price of $35 (Canadian), up from $28 (Canadian). Analysts on average target the shares at $31.09 (Canadian). Mr. Profitti says in a note, "While CRA tax risk likely continues as an overhang, SLW's business model still provides investors with a highly-levered play on precious metals prices and SLW should still command a multiple in line with royalty valuations and a premium to precious-metals miners based on its leverage to underlying prices, free cash flow, and strong balance sheet." BMO analysts upgraded Silver Wheaton to "outperform" from "market perform" in the Eye column on May 13. The shares were then worth $24.86 (Canadian).
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