** Shares of Paladin Energy PDN.AX fall 0.8% to A$9.12
** Analysts at UBS downgrade the stock to "neutral" from "buy", based on the brokerage's conservative uranium outlook and PDN's ~32% gain since Nov 24
** Shares touched a 2-month high on Wednesday after uranium miner reported 638,409 pounds of uranium (U3O8) production at its Langer Heinrich mine in Dec quarter
** Operational update better than expected as PDN communicated that water availability issues that impacted SQ24 production had been resolved - UBS
** Brokerage raises PT for miner to A$10 from A$9.9 due to a hike in FY25 production assumptions ~6% to 3.2Mlbs and rise in FY25, FY25 and FY27 earnings per share estimates by 19%, 2% and 2%, respectively
** Average of nine analysts is a "buy" rating; their median PT is A$12.80 – according to estimates compiled by LSEG data
(Reporting by Sneha Kumar in Bengaluru)
((Sneha.Kumar@thomsonreuters.com;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.