Kazatomprom upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Anna Antonova upgraded Kazatomprom to Overweight from Neutral with an unchanged price target of $48. The shares have “materially de-rated” amid a 13% year-to-date decline in spot uranium prices and a streak of more company-specific announcements, the analyst tells investors in a research note. The firm thinks Kazatomprom’s risk/reward is “getting increasingly attractive from here,” saying the market now has more visibility on its near-term volumes trajectory.