Pan American Silver price target raised to $23 from $20 at Scotiabank

Scotiabank raised the firm’s price target on Pan American Silver to $23 from $20 and keeps an Outperform 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.