Raymond James and CIBC Raise Price Targets on Franco-Nevada (FNV)

Franco-Nevada Corporation (NYSE:FNV) is one of the 11 Best Gold Stocks to Buy According to Hedge Funds. On October 9, Raymond James increased its price target on Franco-Nevada Corporation (NYSE:FNV) from $218 to $234 while keeping an Outperform rating.

This decision came after the firm raised its gold and silver price forecasts for both the short and long term.

On October 10, CIBC also increased its price target on Franco-Nevada Corporation (NYSE:FNV) from C$315 to C$460 while maintaining an Outperformer rating.

This update was based on higher gold price forecasts and the recent surge in gold prices, which has also helped gold stocks perform strongly year-to-date.

Franco-Nevada Corporation (NYSE:FNV) is a Canadian gold-focused royalty and streaming company with a large and diversified portfolio of cash-flow producing assets.

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Disclosure: None. This article is originally published at Insider Monkey.