Freehold Royalties price target lowered to C$17 from C$18 at Scotiabank

Scotiabank lowered the firm’s price target on Freehold Royalties to C$17 from C$18 and keeps a Sector Perform rating on the shares. The firm believes years of underinvestment and continued capital discipline have set the foundation for a structurally favorable outlook of Canadian commodity prices, the analyst tells investors.