Wheaton Precious Metals price target raised to $128 from $109 at Scotiabank

Scotiabank analyst Tanya Jakusconek raised the firm’s price target on Wheaton Precious Metals (WPM) to $128 from $109 and keeps an Outperform rating on the shares. The firm is updating its price targets on Gold & Precious Minerals stocks under its coverage, the analyst tells investors. Precious metals prices continue to rally due to global trade and geopolitical uncertainty, the firm adds. Additionally, the firm notes capital returns and corporate M&A momentum is poised to continue.