BofA raised the firm’s price target on Agnico Eagle (AEM) to $226 from $209 and keeps a Buy rating on the shares. The firm raised price targets for its North American precious metals coverage by 16% on average on the back of higher gold and silver price forecasts, telling investors that the firm’s commodities team now forecasts gold to reach $5,000 per ounce and silver to hit $65 per ounce.
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