Canaccord upgraded Franco-Nevada (FNV) to Buy from Hold with a price target of C$350, up from C$322. The firm expects growth in the second half coming from a full quarter of Cote and Porcupine contributions and higher anticipated deliveries from Antapaccay, noting that the company’s guidance midpoint of 495,000 oz is in line with the firm’s 496,000 oz forecast.
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