RBC Capital analyst Josh Wolfson upgraded Franco-Nevada (FNV) to Outperform from Sector Perform with a price target of $250, up from $225. The firm cites its updated precious metals assumptions for the upgrade. The royalty group is trading at attractive valuation levels and “well-insulated” versus producers ahead of guidance season risks into Q1, the analyst tells investors in a research note. RBC says Franco-Nevada could see potential upside from Cobre Panama over 2026.
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