UBS analyst Daniel Major downgraded Wheaton Precious Metals (WPM) to Neutral from Buy with a price target of $106, up from $100. The firm sees the stock taking a pause following the recent rally. Wheaton is fully valued after the 75% year-to-date amid rising gold and silver prices, the analyst tells investors in a research note. UBS believes the market is already pricing in commodity price growth for Wheaton.
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