TD Newcrest Upgrades Silver Wheaton (SLW) to Buy; Increasing Our Silver Price Forecast
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Price: $20.91 --0%
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
7 Buy, 11 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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TD Newcrest upgraded Silver Wheaton (NYSE: SLW) to Buy, price target raised from $44 to $46.
TD analyst said, "While we continue to prefer gold to silver over the medium and long term, we believe there is potential for the silver price to gain relative strength on speculative investment flows over the next 12 to 18 months. We note that the speculative net long position in silver futures contracts has moderated over the past month, raising the possibility, in our view, of a sharp rise in speculative buying, and there is potential for ETF purchases to push the silver market into deficit in H2/11."
"Silver Wheaton is our top pick for exposure to the silver price, given its
demonstrated leverage to silver, production growth profile and
pure play status on the metal. We believe that these features, together with its
exceptional capital and operating cost certainty, sets the company apart from
its peers."
For more ratings news on Silver Wheaton click here and for the rating history of Silver Wheaton click here.
Shares of Silver Wheaton closed at $39.51 yesterday.
TD analyst said, "While we continue to prefer gold to silver over the medium and long term, we believe there is potential for the silver price to gain relative strength on speculative investment flows over the next 12 to 18 months. We note that the speculative net long position in silver futures contracts has moderated over the past month, raising the possibility, in our view, of a sharp rise in speculative buying, and there is potential for ETF purchases to push the silver market into deficit in H2/11."
"Silver Wheaton is our top pick for exposure to the silver price, given its
demonstrated leverage to silver, production growth profile and
pure play status on the metal. We believe that these features, together with its
exceptional capital and operating cost certainty, sets the company apart from
its peers."
For more ratings news on Silver Wheaton click here and for the rating history of Silver Wheaton click here.
Shares of Silver Wheaton closed at $39.51 yesterday.
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