Paladin Energy downgraded to Hold from Buy at Jefferies

Jefferies downgraded Paladin Energy (PALAF) to Hold from Buy with a price target of A$5.50, down from A$8.50. Paladin’s update confirmed many of the firm’s impact assumptions, but the issues surrounding the extent of impacts to both the stockpiles and open pit mining “appear more aggressive than our prior expectations,” says the analyst, who further lowered the firm’s FY25 and FY26 production expectations.