Uranium Energy downgraded to Market Perform from Outperform at BMO Capital

BMO Capital downgraded Uranium Energy (UEC) to Market Perform from Outperform with a price target of $14, up from $7.75. The firm cites valuation for the downgrade following the stock’s recent rally. BMO says Uranium Energy has been the best performing stock in its coverage over the last quarter, up 140% since early June. While the stock has near-term catalysts, including potentially positive U.S. policy developments, it is now fairly priced versus peers, the analyst tells investors in a research note.