JPMorgan initiated coverage of Agnico Eagle (AEM) with a Neutral rating and $248 price target The firm has a bullish near- and long-term outlook for gold, citing central bank buying and U.S. policy uncertainty. Agnico’s next leg of growth is primarily a 2030s story, and the stock’s current valuation is “relatively full,” the analyst tells investors in a research note. As such. JPMorgan prefers to wait for a better entry point.
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