The Financial Post reports in its Wednesday edition analysts are turning more bullish on Agnico-Eagle Mines following the acquisition of Osisko with Yamana Gold. The Post's Jonathan Ratner, writing in Trading Desk, says Greg Barnes at TD Securities upgraded Agnico to buy from hold and hiked his price target on the stock to $42 (U.S.) from $31 (U.S.), noting its 50-per-cent interest in Osisko is immediately profitable. "Agnico has all of the hallmarks that we look for in a gold equity," Mr. Barnes said in a note to clients. "The company is generating free cash flow, its projects are in relatively safe jurisdictions, its balance sheet is sound, and production is expected to grow over the next three years." He sees little need for any more acquisitions from Agnico. Mr. Barnes believes Agnico paid a full price for Osisko, but pointed out the Canadian Malartic mine has been largely derisked after two years of production and it is close to achieving full design capacity. He forecasts the addition of Canadian Malartic will allow Agnico to generate roughly $300-million per year in free cash flow (after sustaining capital and dividends) that may be used to fund the company's next generation of mines.