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

Related AEM
Bank Of America Sees Growth Potential From Meliadine And IVR For Agnico Eagle Mines
Mining For Gold Miners, Agnico Eagle Mines Ltd (USA)(NYSE:AEM)

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
Oct 2014Scotia CapitalUpgradesSector PerformSector Outperform
Oct 2014JP MorganMaintainsNeutral
Oct 2014Desjardins SecuritiesUpgradesHoldBuy

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

 

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