Scotiabank analyst Ovais Habib lowered the firm’s price target on Pan American Silver (PAAS) to $36 from $36.50 and keeps an Outperform rating on the shares. The company’s completed acquisition of MAG Silver marked an expansion of its silver portfolio, the analyst tells investors. Additionally, the firm believes the company’s partnership with Fresnillo for the Juanicipio silver mine in Zacatecas, Mexico could unlock further upside.
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