Cannae Holdings price target lowered to $16 from $19 at RBC Capital

RBC Capital lowered the firm’s price target on Cannae Holdings (CNNE) to $16 from $19 and keeps an Outperform rating on the shares after its Q4 results. The management is accelerating the company’s portfolio shift towards sports/entertainment assets, though share repurchases may be less of a potential positive catalyst in the near-term, the analyst tells investors in a research note.