Barrenjoey lifted the long-term uranium price forecast to $90 per pound from $80 per pound as the supply-demand dynamics tighten, The Australian reported Friday, citing Glyn Lawcok, Barrenjoey's head of resources research.
Recent policy announcements across the US and Europe are set to stoke demand for the metal, while new production has lagged. Financial players are also set to reengage in the spot market for uranium.
Barrenjoey raised the price target for Boss Energy (ASX:BOE) to AU$4.20 from AU$3.80, and for Paladin Energy (ASX:PDN) to AU$8.15 from AU$7.10.
It also initiated coverage of Deep Yellow (ASX:DYL) at a "neutral" rating and a price target of AU$1.80.
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