Deutsche Bank Upgrades Franco-Nevada (FNV) to Buy

November 9, 2016 11:33 AM EST
Get Alerts FNV Hot Sheet
Price: $63.88 +1.45%

Rating Summary:
    3 Buy, 7 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Deutsche Bank upgraded Franco-Nevada (NYSE: FNV) from Hold to Buy with a price target of $74.00. The change follow's Trump's victory.

Analyst Jorge Beristain said, "We view NA M&M equities exposed to Precious Metals and Steel & Aluminum protectionism stocks as key beneficiaries from Donald Trump’s win of the US Presidency. Outcome may lead to an increase in risk aversion and general market volatility - both supportive for Precious equities. In Steel & Aluminum we believe the US could further protect and enhance rising safeguards against unfair trade. We upgrade to Buy from Hold Reliance ($78/sh vs $75/sh), Ryerson ($14/sh unchanged) and US Steel ($24/sh vs $19/sh) on possible protectionism. In Precious we upgrade Franco-Nevada from Hold to Buy ($74/sh PT unchanged) with valuation appeal following a recent sell-off."

For an analyst ratings summary and ratings history on Franco Nev Corp click here. For more ratings news on Franco Nev Corp click here.

Shares of Franco Nev Corp closed at $65.19 yesterday.

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