Morgan Stanley highlights the importance of first production at Boss Energy's Honeymoon mine (the first drum of uranium has been produced), but will wait to see whether higher grade concentrate than feasibilty study estimates can be sustained.

Management is also aiming to accelerate plans to increase the production rate and mine life at Honeymoon.

The Equal-weight rating and $4.60 target are maintained. Industry View: Attractive.

Sector: Materials.

Target price is $4.60.Current Price is $4.59. Difference: $0.01 - (brackets indicate current price is over target). If BOE meets the Morgan Stanley target it will return approximately 0% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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