RBC Capital analyst Josh Wolfson downgraded Agnico Eagle (AEM) to Sector Perform from Outperform with a price target of $205, up from $185. The firm cites its updated precious metals assumptions for the downgrade. Over the medium term, Agnico will need “heavier” investments to achieve its growth targets, which will reduce free cash flow and raise execution risk, the analyst tells investors in a research note.
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