Kazatomprom initiated with a Buy at Citi

Citi analyst Ephrem Ravi initiated coverage of Kazatomprom with a Buy rating and $52 price target. As the world’s largest uranium producer “by far,” Kazatomprom is a “key unheralded part of the energy transition puzzle over the medium term,” the analyst tells investors in a research note. The firm views the stock’s valuation as “compelling” at current share levels.