Boss Energy jumps as Citi sees key FY27 catalysts despite uranium price pressure
BUZZ-Boss Energy jumps as Citi sees key FY27 catalysts despite uranium price pressure Updates
** Shares of Australia's Boss Energy BOE.AX rise as much as 9.3% to A$1.295, heading for their best trading day since July 6
** Citi remains "neutral" on Boss, saying positive momentum at its Honeymoon uranium project is balanced by execution and technical risks
** Brokerage, however, says near-term earnings are likely to remain pressured by lower realised uranium prices
** Sees several key catalysts emerging through early FY27, including completion of the first wide-spaced wellfield trial and the updated Honeymoon New Feasibility Study (NFS)
** Says appointment of former Oil Search CEO Peter Botten is a positive development and should strengthen strategic and operational leadership as BOE advances Honeymoon
** "Mgmt’s increasing confidence in the wide-spaced wellfield design is encouraging, although execution and technical risks remain" - Citi
** Citi cuts target price to A$1.35/share from prior levels, citing a lower valuation multiple amid a broader de-rating of uranium equities
** BOE shares down 13% YTD
(Reporting by Rajasik Mukherjee in Bengaluru)
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Brief: Boss Energy Says Production Guidance For FY2027 Is 1.25 To 1.30Mlbs U3o8