As previously reported, CIBC upgraded Endeavour Silver (EXK) to Outperformer from Neutral with a price target of C$16, up from C$14. The firm is encouraged by the ramp-up at the company’s Terronera project following a site visit. Endeavour shares are down 20% from its peak with the recent pullback in silver prices, which creates an attractive entry point, the analyst tells investors in a research note. CIBC remains bullish on silver and believes Endeavour offers exposure to higher silver prices.
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