Stifel initiated coverage on Uranium Energy Corp (NYSE: UEC) with a Buy rating and a price target of $10.50.
The firm said Uranium Energy had rapidly expanded its U.S. production capacity, with several in-situ recovery assets providing near-term growth potential and exploration upside from its holdings in Canada’s Athabasca Basin. Analysts cited the company’s strong execution record and successful mergers and acquisitions strategy, which enhanced its scale and optionality.
Stifel added that Uranium Energy’s unhedged exposure to uranium prices positioned it to fully benefit from a rising price environment. The firm also noted the company’s high liquidity and large U.S. investor base as additional strengths supporting its transition to a junior producer status.
