Energy Fuels price target raised to $6 from $4.75 at Roth MKM

Roth MKM raised the firm’s price target on Energy Fuels (UUUU) to $6 from $4.75 and keeps a Neutral rating on the shares. The firm has updated its Q3 estimates to reflect actual uranium price performance during the quarter, though it has also lowered its Q4 2024 forecast from $100 per pound to $85 per pound, the analyst tells investors in a research note. Energy Fuels’ diversification into rare earths remains a risk however, and the company is likely to under-perform its uranium peers as investors digest the significance of this long-term shift, the firm added.