RBC Capital upgraded Wheaton Precious Metals (WPM) to Outperform from Sector Perform with a price target of $130, up from $115. The firm cites its updated precious metals assumptions for the upgrade. The royalty group is trading at attractive valuation levels and “well- insulated” versus producers ahead of guidance season risks into Q1, the analyst tells investors in a research note. RBC sees “impressive growth” in upcoming years for Wheaton.
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