Franco-Nevada price target raised to $115 from $111 at Barclays

Barclays analyst Matthew Murphy raised the firm’s price target on Franco-Nevada to $115 from $111 and keeps an Underweight rating on the shares. While economic growth has remained better than expected, gold is a good hedge against further deterioration in the outlook, says the analyst, who continues to prefer gold over copper equities. A soft economic landing is possible, but monetary tightening is not done yet, contends Barclays.