The Globe and Mail reports in its Friday, March 8, edition that National Bank Financial analyst Shane Nagle is keeping his "sector perform" ranking for Franco-Nevada intact. The Globe's David Leeder writes in the Eye On Equities column that Mr. Nagle lowered his share target by $2.50 to $170. Analysts on average target the shares at $191.34. Mr. Nagle says in a note: "After incorporating Q4/23 results and updated guidance, our target comes down slightly on the reduced 2024 sales outlook. We maintain our 'sector perform' rating, which offsets the company's stable five-year production growth and industry leading financial strength with its premium valuation, uncertainty around long-term recoverable value from Cobre Panama and a competitive deal environment for new royalties/streams." The Globe reported on Sept. 26 that Mr. Nagle rated Franco-Nevada "sector perform." In the item, Mr. Nagle cut his share target back by $5 to $210. The shares could then be had for $180.88. The Globe reported on Dec. 1 that Mr. Nagle, while presumably maintaining his "sector perform" call, shaved his share target by another $15, taking it down to $190. Franco-Nevada shares could then be had for $151.98.