Market Overview

UPDATE: Morgan Stanley Reiterates On Agnico Eagle Mines As Momentum Is Expected To Continue

Share:
Related AEM
Gold ETFs Have Some Famous Hedge Fund Supporters
What's Next For Gold Investors?
Physical Gold Flows From Switzerland Has A Little For The Bulls And Bears (Seeking Alpha)

In a report published Friday, Morgan Stanley analyst Brad Humphrey reiterated an Overweight rating on Agnico Eagle Mines (NYSE: AEM), and raised the price target from $32.60 to $36.00.

In the report, Morgan Stanley noted, “Consistently exceeding expectations with solid operations in stable jurisdictions support premium valuation: Although YTD AEM has been one of the better performing gold producers (up 27% vs the HUI up 20%), we believe further upside is possible supported by its strong asset base as it enters the harvest phase.”

Agnico Eagle Mines closed on Friday at $33.47.

Latest Ratings for AEM

DateFirmActionFromTo
Jul 2015CIBCInitiates Coverage onOutperform
Jul 2015HSBCUpgradesHoldBuy
Jul 2015BarclaysMaintainsEqual-weight

View More Analyst Ratings for AEM
View the Latest Analyst Ratings

Posted-In: Brad Humphrey Morgan StanleyAnalyst Color Price Target Analyst Ratings

 

Related Articles (AEM)

Get Benzinga's Newsletters