Cannae Holdings price target lowered to $23 from $27 at RBC Capital

RBC Capital analyst Kenneth Lee lowered the firm’s price target on Cannae Holdings (CNNE) to $23 from $27 but keeps an Outperform rating on the shares after its Q4 results. The company continues to focus on re-balancing the investment portfolio away from public investments, and the potential proceeds of any monetizations could be repurchases and debt paydowns, the analyst tells investors in a research note.