Price: $3.18, Change: $+0.10, Percent Change: +3.28%
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Research Alert: CFRA Reiterates Buy Opinion On Shares Of Franco-nevada Corporation
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We cut our 12-month target price by CAD27 to CAD416, as we now assume a lower P/E multiple (tracking the multiple contraction in the peer group). We now use a P/E of 28.0x (vs. 34.8x previously) applied to our 2027 EPS estimate. Our assumed P/E is in between FNV's two-year average forward P/E of 33.9x and peers' average forward P/E of 22.3x. The lower P/E multiple is partly offset by higher EPS estimates mostly due to higher commodity prices: we increased 2026's to USD9.57 (from USD8.61) and 2027's to USD10.81 (from USD9.30). FNV's royalty/streaming model provides significant operating leverage to commodity prices while remaining largely insulated from cost inflationa key differentiator in the current environment. The company boasts the sector's largest and most diversified portfolio of 121 cash-flow producing assets, with resources supporting 34 years of mine life at current production rates. With USD3.4B in available capital and a robust acquisition pipeline, FNV is well-positioned for continued growth.
$FNV
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Update: Morgan Stanley Downgrades Viking Holdings to Equalweight From Overweight on More Balanced Risk-reward, Raises Price Target to $86 From $81
(Updates with Morgan Stanley's commentary.)Morgan Stanley, in a note Friday, downgraded Viking (VIK) to equalweight from overweight saying their original bull thesis has already been reflected in the stock price, "leaving a more balanced risk reward and fairly valued stock."Analysts at the brokerage also raised the company's price target to $86 from $81 alongwith its '27/'28 EBITDA estimates, citing stronger 2027 booking demand."We still expect positive revisions from here as 11% pricing for 2027 should set the stage for yields well above consensus at ~4.5% (we are at ~6%)", the note said.Viking has an average rating of overweight and mean price target of $92, according to analysts polled by FactSet.(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..com/contact-us)Price: $83.64, Change: $-3.08, Percent Change: -3.55%
$VIK
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Research Alert: CFRA Maintains Buy Opinion On Shares Of Dell Technologies Inc
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our price target by $24 to $263, 17.5x our FY 28 (Jan.) EPS view, above DELL's three-year average (~11x) as significant demand from the AI buildout offsets PC weakness and temporary supply/margin risks. We lift our FY 27 EPS view by $0.15 to $12.95 and raise FY 28's by $0.14 to $15.05. As Q1 earnings have progressed, all signs point to better-than-expected demand for all things AI, validated by continued increases in hyperscalers' capex projections and improving projections across semis/semi equip. We also see upside associated with comments from President Trump last Friday to "go out and buy a Dell" (sending shares up 13% on the day), which we doubt moves the needle much on the PC business but which we think signals a further divergence in reputation between DELL and server peer SMCI (amid associated export control violations), further solidifying our position that customer demand and priority supply allocations (of GPUs and memory) will shift towards DELL/HPE, creating incremental demand.
$DELL