First Majestic price target raised to $6.50 from $5.50 at Scotiabank

Scotiabank raised the firm’s price target on First Majestic to $6.50 from $5.50 and keeps a Sector Perform rating on the shares. The firm is adjusting its price targets for companies in its mid-tier precious metals coverage, following an improved outlook for precious metals in 2024E and 2025E, as well as a higher long-term silver price.