TD Securities raised the firm’s price target on Pan American Silver (PAAS) to $28 from $25 and keeps a Buy rating on the shares. The firm updated the company’s model post the Q4 report. Pan American is the best performing silver equity in TD’s coverage universe this year, after achieving production guidance and delivering strong free cash flow in 2024, the analyst tells investors in a research note. TD believes the outperformance could continue, citing the company’s “strong” balance sheet and free cash flow generation, along with increased investor interest in silver and gold.
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