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CIBC Increases Price Target on UEC to $4.20
Dear Shareholder,
Yesterday, October 5, Ian Parkinson, mining analyst with CIBC World Markets, issued updating analysis on Uranium Energy Corp and raised CIBC�s price target for UEC to $4.20/share. Importantly, Mr. Parkinson cited renewed optimism regarding the price of uranium � both near-term and longer-term � as one of his reasons for recommending the company and classifying UEC as �Sector Outperformer.�
Following are quotes from CIBC�s analysis:
�UEC is on the right track to bring its project on line. Having near-term production and location in a politically stable region has led to the share price outperformance this year. We expect this to continue as UEC is re-rated as a producer in the market place and works towards becoming cash flow positive.� �We fully expect demand for uranium to grow at a greater rate than other traditional sources of energy to feed this new power demand. We believe the outlook for uranium is strong and should stay strong for years to come. CIBC Uranium Price Deck: Q4 2009: $47.50; 2010: $65.00�� ��given UEC�s aggressive growth ambitions, we see this [$22.3 million] financing as a stepping stone to resource base growth and progressing further towards near-term cash flow at Goliad. There are several distressed assets and properties that could be enveloped into the UEC brand.� ��we have increased our price target to $4.20 from $3.40.�
�UEC is on the right track to bring its project on line. Having near-term production and location in a politically stable region has led to the share price outperformance this year. We expect this to continue as UEC is re-rated as a producer in the market place and works towards becoming cash flow positive.�
�We fully expect demand for uranium to grow at a greater rate than other traditional sources of energy to feed this new power demand. We believe the outlook for uranium is strong and should stay strong for years to come. CIBC Uranium Price Deck: Q4 2009: $47.50; 2010: $65.00��
��given UEC�s aggressive growth ambitions, we see this [$22.3 million] financing as a stepping stone to resource base growth and progressing further towards near-term cash flow at Goliad. There are several distressed assets and properties that could be enveloped into the UEC brand.�
��we have increased our price target to $4.20 from $3.40.�
Please call us at 1-866-748-1030 if you have questions, or if you would like a copy of CIBC�s 11-page report, or email info@uraniumenergy.com
Thank you,Uranium Energy Corp
Highlights of Uranium Energy Corp as an investment opportunity:
For further information about Uranium Energy Corp (NYSE - AMEX: UEC), please click: www.uraniumenergy.com or call 1.866.748.1030