UPDATE: BMO Capital Markets Upgrades Endeavour Silver; Raises PT

According to a research report published this morning, BMO Capital Markets has upgraded Endeavour Silver

from Underperform to Markets Perform, and raised PT from $8.50 to $9. In the report, BMO Capital Markets commented, "On April 15, Endeavour Silver announced the signing of a definitive agreement with AuRico (AUQ-TSX, $8.87, Outperform, covered by David Haughton) to purchase the operating El Cubo silver-gold mine and exploration-stage Guadalupe y Calvo (GyC) project in Mexico. EDR will pay AUQ $200M upon closing, and can elect to pay up to $100M of the purchase price in shares, with the remaining amount in cash." Endeavour Silver closed Friday at $8.67.