Stifel initiated coverage of Kazatomprom (NATKY) with a Buy rating and $50 price target as the firm rolled out coverage on four uranium companies. The firm believes Kazatomprom will maintain its global market leadership as consensus estimates continue to absorb the impacts of production capability rates and the Kazakhstan’s Mineral Extraction Tax. The firm sees “a compelling risk:reward tradeoff” given what it views as the potential for “outsized” dividends in 2025 and 2026, the analyst added.
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