NexGen Energy initiated with an Outperform at Scotiabank

Scotiabank analyst Orest Wowkodaw initiated coverage of NexGen Energy with an Outperform rating and C$13.50 price target. The analyst believes the shares shares warrant a premium valuation given the company’s “world-class” Arrow deposit. Arrow is a large high-grade uranium discovery on the cusp of development and ongoing exploration upside, the analyst tells investors in a research note. The firm also sees a “very attractive” long-term fundamental outlook for uranium.