Analyst Actions: Raymond James Rates Silvercorp "Outperform" on Positive Outlook

By Midnight Trader,  September 06, 2011, 02:40:35 PM EDT

Raymond James Ltd. analyst Brad Humphrey is still recommending investors accumulate shares in Silvercorp Metals Inc. (SVM.TO) despite allegations contained in an anonymous letter last week that the company is involved in an accounting fraud, the Globe and Mail reported.

Mr. Humphrey reportedly said in a research note today that "Given what we know at this time, we suspect SVM shares will weather this storm...We suspect this will be more of a short term issue that in the end may allow SVM to get out from under the current 'China' overhang"

Raymond James Ltd. maintained an "outperform" rating and 12-month target price of US$16




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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