Uranium Energy initiated with an Outperform at BMO Capital

BMO Capital analyst Alexander Pearce initiated coverage of Uranium Energy (UEC) with an Outperform rating and $7.75 price target The company is a uranium producer and developer, with a North American-focused portfolio of assets that is poised to become a key provider of U.S. domestic production, the analyst tells investors in a research note. The firm says the staged development of Uranium Energy’s low capital intensity “hub and spoke” model and strong balance sheet provide production and funding flexibility, while offering attractive near-term production growth.