EnCore Energy initiated with an Outperform at Northland

Northland analyst Jeff Grampp initiated coverage of EnCore Energy (EU) with an Outperform rating and $3.50 price target The firm says EnCore is one of the U.S.’s only current uranium producers. The company has built a “sizable” asset base which should drive meaningful scale over the coming years, the analyst tells investors in a research note. Northland thinks accelerating nuclear power deployments and uranium industry supply underinvestment can drive uranium prices higher.