The Globe and Mail reports in its Friday, Feb. 6, edition that with uranium prices rallying, National Bank Financial analyst Mohamed Sidibe sees valuations for related stocks to benefit from "a tight market, quality assets and scale to lead to multiples expanding beyond those ranges." The Globe's David Leeder writes in the Eye On Equities column that Mr. Sidibe, emphasizing primary production remains in deficit with restarts "slower and costlier than promised" for even tier-one assets, "structural shift" in the need for both critical minerals and energy in the West is expected, sees uranium equity multiples expanding beyond historical levels "with nuclear tailwinds still intact. ... We expect governments to remain focused on expanding the supply of electrons, with nuclear (and, by extension, uranium) positioned as a core component. ... Uranium equities are being rerated based on where the market anchors acceptable forward multiples for long-duration assets, not on the latest spot print." Mr. Sidibe continues to rate NexGen Energy "outperform." Mr. Sidibe's share target advanced by a loonie to $19. Analysts on average target NexGen shares at $17.75.
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