Globe says Raymond James hikes Integra share target2017-02-16 08:37 ET - In the News
The Globe and Mail reports in its Thursday, Feb. 16, edition that Raymond James analyst Chris Thompson says the current environment supports a "positive backdrop" for momentum to continue in the precious metals sector driven "by an extension of positive impetus since the beginning of the year." The Globe's David Leeder writes in the Eye On Equities column that Mr. Thompson says that while his long-term outlook for precious metals is bright, he expects the current strength in the stock market and the threat of a rate hike near the middle of 2017 will weigh on prices. He says in a note: "Our thesis amongst gold and silver equities remains unchanged and we continue to recommend investors maintain exposure with core positions in top quality names, taking advantage of short-term opportunities created by valuation dislocations, potential upcoming catalysts and possible impending market reratings. While valuations are currently elevated since the pullback late last year, we recommend investors look for attractive entry points for our preferred names." Mr. Thompson reiterated his "outperform" rating on Integra Gold, while hiking his share target to $1.25 from $1.15. Analysts on average target the shares at $1.16.