Raymond James raised its price target on Franco-Nevada Corp. (FNV.TO, FNV) to US$238 from US$236.

Analyst Brian MacArthur maintained an Outperform rating on shares of the Toronto-based gold-focused royalty and streaming company.

"Following a review of operating updates by some operators for properties on which FNV has streams and royalties, we have updated our forecasts," MacArthur said in a note to clients.

"FNV is a diversified royalty/streaming company with quality assets, strong free cash flows, and term growth," the analyst said.

"It also has a strong balance sheet to finance potential future deals and support its dividend, which has increased every year."

(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)