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Fly News Breaks for July 16, 2019
WPM
Jul 16, 2019 | 05:59 EDT
Barclays analyst Matthew Murphy upgraded Wheaton Precious Metals to Overweight from Equal Weight and raised his price target for the shares to $28 from $23. The analyst calls the company his preferred streamer based on valuation. With the gold price allowing for margin expansion, companies may be able to "deliver the delicate balance" of modest free cash flow while also reinvesting in exploration and growth, thereby justifying higher multiples, Murphy tells investors in a research note.
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