Franco-Nevada price target lowered to $140 from $155 at RBC Capital

RBC Capital lowered the firm’s price target on Franco-Nevada to $140 from $155 and keeps a Sector Perform rating on the shares. The outsized negative risk to the company from uncertainties related to the future of its cornerstone Cobre Panama stream is a legitimate but low possibility event, the analyst tells investors in a research note. The firm adds that its reduced price target for Franco-Nevada also reflects multiple compression.