The Globe and Mail reports in its Friday, May 23, edition that TD Cowen analyst Wayne Lam, in response to Mag Silver's offer to be acquired by Pan American Silver, has lowered his recommendation for Mag to "sell" from "buy." The Globe's David Leeder writes in the Eye On Equities column that Mr. Lam, however, gave his share target a 57-cent boost to $28.57. Analysts on average target the shares at $27.79. Mr. Lam says in a note, "We believe the offer is attractive, with low potential for a superior bid. As such, we believe investors should tender to the offer." Elsewhere, CIBC's Cosmos Chiu moved his rating to "tender" from "neutral" with a $28 share target, rising from $26. Mr. Chiu says in a note: "The transaction offers significant value and multiple benefits to MAG shareholders by providing exposure to Pan American Silver's diversified portfolio of 10 silver and gold mines, including potential growth opportunities from the La Colorada Skarn project. Mag shareholders will still retain exposure to Juanicipio's strong performance while scaling up their portfolio by gaining equity in Pan American."