Ur-Energy price target raised to $2.75 from $2.25 at Alliance Global Partners

Alliance Global Partners raised the firm’s price target on Ur-Energy to $2.75 from $2.25 and keeps a Buy rating on the shares. Due to various challenges related to the ramp up of the Lost Creek uranium project in Wyoming, the company’s Q4 production was modestly below expectations, the analyst tells investors in a research note. However, the firm believes “the kinks are largely in the rearview” and expects the project to reach a steady-state production run rate of 1.2 million tpa during Q2 amid a rising uranium price environment.