The Globe and Mail reports in its Tuesday, March 3, edition that National Bank Financial analyst Alex Terentiew has reiterated his "outperform" recommendation for Endeavour Silver. The Globe's David Leeder writes in the Eye On Equities column that Mr. Terentiew trimmed his share target by a loonie to $28. Analysts on average target the shares at $19.20. Mr. Terentiew says in a note: "After slightly increasing our near-term cost forecasts for Terronera and making minor adjustments to timing of settlements on Endeavour's gold hedges, our 2026 EBITDA estimate is down 1 per cent. ... We continue to view Endeavour Silver as our 'Top Pick' within the silver coverage universe due to its continued discounted valuation (P/NAV of 1.37 times vs peers at 1.83 times and 2026 EV/EBITDA of 8.2 times vs peers at 9.6 times) and expected transition to a state of strong, positive FCF through the ramp-up of Terronera and increasing contribution from Kolpa. We look forward to costs at Terronera declining as the mine approaches steady-state and Kolpa expanding toward its targeted 2,500tpd [tonnes per day] rate in 2026. Resource updates at Terronera, Kolpa and a FS at Pitarrilla are also likely to be catalysts in 2026."