Uranium Royalty upgraded to Outperform from Market Perform at Raymond James

Raymond James upgraded Uranium Royalty (UROY) to Outperform from Market Perform with a price target of C$6.25, up from C$5.75. Uranium Royalty is viewed as a lower-risk way to gain exposure to uranium prices through a high-margin royalty model that limits operating and capital cost exposure, the analyst tells investors in a research note. Its portfolio is diversified across relatively stable jurisdictions and backed by strong operators, while still offering upside from exploration and asset expansion, supported by a solid balance sheet, the firm says.