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Fly News Breaks for May 24, 2016
MVG
May 24, 2016 | 08:17 EDT
Roth Capital analyst Joe Reagor raised his price target for MAG Silver to $15 from $11 saying the market is pricing in a number of potential project growth opportunities as the company has continued to de-risk the project. Reagor believes that a portion of the recent share price appreciation was due to an increase in investor appetite for high-grade projects, which provide better downside protection. As a result, Reagor has also increased his buyout premium to 30% from 20% as he believes the likelihood of a buyout is increasing in a rising metals price environment. The analyst reiterates a Buy rating on the shares.
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