Energy Fuels Inc. (UUUU) shares plummeted 5.02% on Tuesday, despite analyst Roth MKM raising the stock's price target from $4.75 to $6. The firm maintained a "Neutral" rating on the uranium mining company's shares.
The "Neutral" rating from Roth MKM could have weighed on investor sentiment, as it suggests the analyst expects the stock to perform in line with the overall market. A "Neutral" rating may not be seen as a strong endorsement, potentially contributing to the sell-off seen in Energy Fuels' stock.
However, the price target increase from $4.75 to $6 indicates that Roth MKM sees upside potential for the stock. This could provide some support for Energy Fuels' shares, as higher price targets often attract investors and can boost confidence in a company's prospects. The stock's reaction may reflect a tug-of-war between the positive price target revision and the more cautious "Neutral" rating.
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