Cantor Fitzgerald downgraded EnCore Energy (EU) to Speculative Buy from Buywith a price target of C$5.75, down from C$7.25. The company this morning reported select Q4 results this morning and announced that Paul Goranson is no longer serving as the company’s CEO. The firm says EnCore’s Q4 looks like a miss across all relevant metrics while production and cost guidance for 2025 was not provided. Cantor negatively adjusted the Rosita production profile and assumes the European Union makes additional spot market purchases to deliver into EnCore’s contract portfolio.
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