Pan American Silver price target raised to $23 from $21 at Jefferies

Jefferies analyst Matthew Murphy raised the firm’s price target on Pan American Silver to $23 from $21 and keeps a Hold rating on the shares. Rather than cooling down, gold has been trading with higher torque to falling real rates, notes the firm, which thinks gold can continue to gain in the near-term. The firm has updated its commodity price outlook and hiked targets on the metals and miner equities covered by the analyst by an average of 13%.