The Globe and Mail reports in its Friday, April 19, edition that National Bank Financial analyst Don DeMarco has reaffirmed his "outperform" recommendation for Pan American Silver. The Globe's David Leeder writes in the Eye On Equities column that Mr. DeMarco boosted his share target to $34.50 from $32. Analysts on average target the shares at $27.20. Mr. DeMarco says in a note: "Go-to name for silver exposure (21-per-cent 2024 production, 34-per-cent reserves) with robust liquidity ($75-million/d) and a material catalyst pending with the potential Escobal mine restart. Pan American Silver's extensive 11-mine, eight-country portfolio mitigates jurisdiction risk with opportunity for asset dispositions and La Arena II is among the next candidates amidst a favourable outlook for Cu supply/demand. Management is experienced and the balance sheet is intact with net debt of $462-million, of which $408-million are senior notes with an attractive 2.63-per-cent coupon." The Globe reported on Jan. 16 that Mr. DeMarco had reaffirmed his "outperform" recommendation for Pan American Silver when it could be had for $20.62. The Globe reported on Feb. 7 that National Bank called Pan American a top pick. It was then worth $17.78.