UBS initiated coverage of NexGen Energy (NXE) with a Buy rating and C$20 price target NexGen provides exposure to a tier-one uranium project with significant exploration upside and strong leverage to higher uranium prices, supported by a largely uncontracted order book, the analyst tells investors in a research note. Despite development and funding risks, the Rook I project is viewed as a high-quality, multi-decade asset with attractive valuation relative to peers, the firm says.
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