UPDATE: Dahlman Rose Initiates Coverage on Uranium Resources

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According to a research report published earlier today, Dahlman Rose has initiated Uranium Resources (NASDAQ: URRE) with a Buy rating and $1.45 PT.Dahlman Rose commented in the report, “In our opinion, the long-term market fundamentals and price outlook for uranium remain strong. We believe a nuclear renaissance in developing economies is underway, an increasing emphasis on clean energy, accelerating nuclear reactor construction starts, and rapidly depleting secondary supplies are set to push prices for U3O8 higher. While we recognize the industry has paused in the wake of the Fukushima tragedy, we believe that higher prices for uranium are likely over the medium to long term.”Uranium Resources closed yesterday at $0.87.

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