UUUU - Energy Fuels To Gain From Increase In Uranium Spot Price: Analyst Sees Higher Demand Focus On Nuclear Energy | Benzinga
Roth MKM analyst Joe Reagor reiterated a Buy rating on Energy Fuels Inc (AMEX: UUUU), raising the price target to $9.50 from $8.50.
Reagor increased the near-term and long-term uranium price forecasts in response to an earlier-than-anticipated increase in the uranium spot price.
Since July 2023, the spot price of uranium has increased from $54 per pound to over $72 per pound, notes the analyst.
Reagor attributes this sharp increase to several factors including geopolitical issues and increasing demand driven by a renewed focus on nuclear energy.
As a result, the ...