JPMorgan initiated coverage of NexGen Energy with an overweight rating and a 14 dollars price target, implying 50% upside from the last closing price. The company is building the Rook I uranium mine in Canada, expected to be completed by 2030 and produce 30 million pounds of uranium per year. All eight analysts covering the stock recommend a buy, and the average analyst price target anticipates more than doubling from current levels. According to JPMorgan, the project is fully permitted and offers a rare combination of tier-one asset quality and long-term growth potential.
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