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Berenberg stays at 'buy' on Yellow Cake on tight supplies and supply risk
(Sharecast News) - Analysts at Berenberg stood by their 'buy' recommendation for shares of Yellow Cake, the uranium oxide concentrate holding company, following a fireside chat with its boss, Andre Liebenberg. Their main conclusion was that following the correction in uranium prices during the first quarter of 2024, the market for uranium was well placed to benefit from tight supply, supply risk and increasing demand.
That was on top of the growing requirement for term material from nuclear utilities.
Hence, they were expecting the 12.7% discount in the shares' price versus the uranium price to narrow.
Their target price was kept at 776p.
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