Kazatomprom initiated with a Buy at Canaccord

Canaccord initiated coverage of Kazatomprom with a Buy rating and $57 price target. Kazatomprom is the national atomic company of Kazakhstan and the largest uranium producer in the world, accounting for 40%-45% of global production, the analyst tells investors in a research note. The firm says the scale and flexibility of the company makes it the most significant player in the market, and it considers the investment case to be compelling.