TD Securities Downgrades Franco Nev Corp (FNV) to Hold

TD Securities downgraded Franco Nev Corp (NYSE: FNV) from Action List Buy to Hold with a price target of $73.00 (from $72.00).

Analyst Greg Barnes said, "We have simply run out of room for now. Franco is trading at ~24x EV/2017 EBITDA and 2.4x our net asset value — these multiples effectively match our target price multiples and are at the higher end of the historical ranges."

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 $69.25 yesterday.

You May Also Be Interested In

• Franco-Nevada To Release First Quarter 2024 Results
• Morgan Stanley Upgrades Shopify (SHOP) to Overweight
• RBC Capital Upgrades EDP Renovaveis SA (EDPR:LI) (EDRVF) to Outperform