Morgan Stanley downgraded Boss Energy (BQSSF) to Underweight from Equal Weight with a price target of A$3.25, up from A$2.70. The firm’s 35% bull-weighted skew reflects its more constructive view on Uranium, while progress at Honeymoon with ramp up risk is factored into its base case, the analyst tells investors in a research note. Morgan Stanley adds however that the plans and capex for developing its Jason’s Deposit, Gould’s Dam, Billeroo and Sunrise sites are unclear and carry execution risk.
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