Market Overview

UPDATE: Credit Suisse Upgrades Silver Wheaton to Outperform on Gold Exposure Increase

Share:
Related SLW
Bay Street Analysts Still Like Silver Wheaton
Resource Investors Could See Rewards, Less Risk With Royalty Companies

Credit Suisse upgraded Silver Wheaton (NYSE: SLW) from Neutral to Outperform and raised the price target from $47.00 to $49.00.

Credit Suisse noted, "SLW announced a binding term sheet to acquire two gold streams from Vale. … Doubling down on gold exposure. SLW estimates revenues generated from gold over the next five years will increase from ~12% to a peak of ~25%. … Recent underperformance in the shares vs. silver price (-9% on 3Mth basis) provides a compelling entry point in the shares given our view that SLW warrants a premium valuation due to its above average growth profile, fixed-cost structure, and strong liquidity position."

Silver Wheaton closed at $36.79 on Wednesday.

Latest Ratings for SLW

DateFirmActionFromTo
Jul 2015RBC CapitalMaintainsOutperform
Jul 2015JP MorganMaintainsOverweight
May 2015Canaccord GenuityInitiates Coverage onBuy

View More Analyst Ratings for SLW
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Upgrades Analyst Ratings

 

Related Articles (SLW)

Get Benzinga's Newsletters