CIBC analyst Cosmos Chiu changed the firm’s rating on MAG Silver (MAG) to Tender from Neutral and raised its price target on shares to C$28 from C$26 after Pan American Silver (PAAS) announced that it has entered into a definitive agreement to acquire MAG Silver.
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Read More on MAG:
- MAG Silver to be Acquired by Pan American Silver in $2.1 Billion Deal
- MAG Silver downgraded to Sell from Buy at TD Securities
- M&A News: Pan American Silver (PAAS) Buys Rival MAG for $2.1 Billion
- Pan American Silver price target lowered to $39 from $42 at CIBC
- MAG Silver downgraded to Hold from Buy at Canaccord