DA Davidson analyst Tom Forte raised the firm’s price target on A-Mark Precious Metals to $47 from $42 and keeps a Buy rating on the shares after hosting its management team for investor meetings. The firm continue to see the company as an underappreciated growth story that has weathered a weaker operating environment over the last few quarters while successfully driving profitability, adding that A-Mark is now seeing improving trends, the analyst tells investors in a research note. DA Davidson further cites the company’s significant long term opportunities in M&A and other capital allocation initiatives as well as a better supply and demand balance versus previous quarters.
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