Boss Energy Must Show it Can Execute

Dow Jones11-03

0018 GMT - While Boss Energy provides exposure to a tightening uranium market, the investment case is increasingly dependent on execution, says Morgans. At Honeymoon, Boss beat expectations in 1Q FY2027, with production 17% higher than consensus, it says. Yet "Alta Mesa remains uncertain, with EnCore Energy yet to establish a consistent operating track record," says Morgans. The broker upgrades Boss to a trim rating from sell, and raises its price target to 1.35 Australian dollars from A$1.30/share. "While BOE retains a strong balance sheet and uranium inventory, we believe investors can achieve superior leverage to a strengthening uranium market through alternative ASX-listed uranium exposures," it says. Shares are down 2.8% at A$1.41.

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