Franco-Nevada upgraded to Buy from Hold at Stifel

Stifel upgraded Franco-Nevada to Buy from Hold with a price target of C$215, down from C$222. The analyst sees an attractive entry point following the recent pullback in the shares. The new concession contract signed by the government of Panama has eliminated a “significant overhang” in the Cobre mine’s operations, which recovered to normal production levels in Q2 after the lifting of export restrictions, the analyst tells investors in a research note.