Goldman Sachs analyst Emily Chieng downgraded Wheaton Precious Metals to Neutral from Buy with a price target of C$66, up from C$60. Following the stock’s recent outperformance, the company’s positive factors are now better reflected in the shares, the analyst tells investors in a research note. The firm remains constructive on Wheaton’s business fundamentals, but now sees limited share upside over the next 12 months. It cites valuation for the downgrade.
Published first on TheFly
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