Credit Suisse Reinstates Franco Nev Corp (FNV) at Neutral

Credit Suisse reinstates coverage on Franco Nev Corp (NYSE: FNV) with a Neutral rating and a price target of $58.00.

Analyst A. Soni commented, "Reinstate coverage following research restriction on FNV's US$920M bought deal, proceeds from which were used to fund the US$500M acquisition of the Antapaccay gold stream and enhance FNV's cash position. Target price to US$58/sh from US$53: We weight our NAV and cash flow valuation evenly with target multiples of 2.0x and 25x unchanged."

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 $60.56 yesterday.

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