BofA Raises its Price Target on Franco-Nevada (FNV) to $311 from $280

Core Viewpoint - Franco-Nevada Corporation (NYSE:FNV) is recognized as one of the best debt-free stocks to buy, with recent price target increases from major banks following strong Q4 results and positive guidance for future growth [1][2]. Financial Performance - Franco-Nevada reported Q4 adjusted EPS of $1.85, exceeding the consensus estimate of $1.67, with revenue reaching $597.3 million compared to the consensus of $532.77 million [3]. - The company sold 141,656 GEOs, marking an 18% increase year-over-year, and 129,690 net GEOs sold, which is a 21% increase [3]. Analyst Ratings and Price Targets - BofA raised its price target on Franco-Nevada to $311 from $280 while maintaining a Neutral rating after updating its model based on Q4 results [1][6]. - Scotiabank increased its price target to $286 from $283, keeping a Sector Perform rating, highlighting the company's focus on Cobre Panama and its execution on transaction opportunities [2]. Strategic Focus - CEO Paul Brink emphasized that the strong Q4 results reached the "top end" of guidance, driven by higher cash flow, which supports a dividend increase and continued capital deployment [3]. - The company is advancing studies and permits related to Cobre Panama, which is expected to contribute to future growth [2][3].