Analyst Lifts Silver Price Forecasts, Raises Targets on Silver Stocks (SLV)
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Price: $13.90 --0%
Rating Summary:
2 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
2 Buy, 1 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Analysts at TD Newcrest raised their price forecasts for silver across the board Thursday, saying the revisions "reflect the dramatic and unexpected strength in the silver... over the last six months."
The firm said while it likes gold versus silver over the medium and long term, it sees potential for silver to continue outperforming given recent "strength of speculative investment flows."
TD Newcrest lifted its 2011 price forecast on silver from $26 to $36 per ounce, its 2012 forecast from $25 to $30 and its 2013 prediction from $22 to $25. The firm's long-term target moved from $18 to $20.
Taking a look at some specific stocks, TD Newcrest upgraded shares of Minefinders (NYSE: MFN) from Reduce to Hold. The firm boosted price targets on: Goldcorp (NYSE: GG) from $64 to $66, Silver Wheaton (NYSE: SLW) from $45 to $54, Yamana (NYSE: AUY) from $18 to $18.50, Pan American Silver (Nasdaq: PAAS) from $41 to $48 and Gammon Gold (NYSE: GRS) from C$10 to C$10.50.
The iShares Silver Trust ETF (NYSE: SLV) is down 0.05 percent to $38.60 Thursday.
The firm said while it likes gold versus silver over the medium and long term, it sees potential for silver to continue outperforming given recent "strength of speculative investment flows."
TD Newcrest lifted its 2011 price forecast on silver from $26 to $36 per ounce, its 2012 forecast from $25 to $30 and its 2013 prediction from $22 to $25. The firm's long-term target moved from $18 to $20.
Taking a look at some specific stocks, TD Newcrest upgraded shares of Minefinders (NYSE: MFN) from Reduce to Hold. The firm boosted price targets on: Goldcorp (NYSE: GG) from $64 to $66, Silver Wheaton (NYSE: SLW) from $45 to $54, Yamana (NYSE: AUY) from $18 to $18.50, Pan American Silver (Nasdaq: PAAS) from $41 to $48 and Gammon Gold (NYSE: GRS) from C$10 to C$10.50.
The iShares Silver Trust ETF (NYSE: SLV) is down 0.05 percent to $38.60 Thursday.
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