Why Franco-Nevada Stock Crawled Higher Today
Gold streaming and royalty company Franco-Nevada's (NYSE: FNV) stock had a bit of luster on the second trading day of the week. Its shares closed Tuesday up by almost 1.3% on a pair of analyst price-target hikes following the company's latest earnings release. That little pop was sufficient to edge past the S 500 index, which closed 1.1% higher.
Not one but two pundits following Franco-Nevada upped their fair value assessment on the stock; interestingly enough, each raised it by the same amount to the same level. TD Securities' Derick Ma and Scotiabank's Tanya Jakusconek now feel it's worth $184 per share (from their previous $182). However, the pair maintained their respective hold recommendations.
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Source Fool.com
