Franco-Nevada price target raised to $137 from $133 at Jefferies

Jefferies raised the firm’s price target on Franco-Nevada to $137 from $133 and keeps a Hold rating on the shares. Rather than cooling down, gold has been trading with higher torque to falling real rates, notes the firm, which thinks gold can continue to gain in the near-term. The firm has updated its commodity price outlook and hiked targets on the metals and miner equities covered by the analyst by an average of 13%.