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Energy Fuels remains a buy says Cantor Fitzgerald

Last updated: 06:33 13 Sep 2016 AEST, First published: 01:33 13 Sep 2016 AEST

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Energy Fuels (NYSEMKT:UUUU, TSE:EFR) was reiterated a buy with a target price of C$7.05 by analysts at Cantor Fitzgerald on Monday.

“True to the current strategy, a revised business plan through 2018 continues to put emphasis on reduced production in the short term, while maintaining significant production scalability over the longer term, so to respond to eventual improvements in market conditions,” Cantor said in a note.

“Drilling at the Canyon Mine is on-going with material production expected in the short to medium term. Management believes that Canyon will provide some of the lowest cost uranium within the company portfolio.

Earlier Energy Fuels updated on uranium production to the end of 2018. Read more.

Meanwhile, Finish Line (NASDAQ:FINL), the athletic apparel and footwear seller, was cut to “hold” from “buy” by Deutsche Bank, primarily on a valuation basis after 34% run-up so far this year. It still sees good long-term performance for Finish Line, however. By the day’s own finishing line, the company’s stock was down 1.7% to $23.01.

In the tobacco sector, broker Goldman Sachs upgraded Philip Morris (NYSE:PM) to "buy" from "neutral," and downgraded Reynolds American (NYSE:RAI) to "neutral" from "buy."

Goldman said overall, it's neutral on the tobacco sector, but has shifted its preference to Philip Morris from Reynolds. The firm said the bull case for Reynolds is largely played out after significant outperformance since it rated it a "buy" in June of 2015.

Philip Morris shares closed up 3.2% at $110.64 while Reynolds rose 1.6% to $47.88.

Broker Jefferies raised its rating on AstraZeneca (NYSE:AZN) to "buy" from "hold," saying the potential of the drug maker's cancer drug portfolio is not fully reflected in the stock's price. The shares closed up 3.2% to $33.24.

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