RBC Capital Markets raised its price target on Cameco Corp. (CCO.TO, CCJ) to $100 from $90.
Analyst Andrew D. Wong maintained an Outperform rating on shares of the Saskatchewan-based uranium company.
"We believe Cameco is uniquely well-positioned to benefit from accelerating growth in the nuclear industry and a tight uranium market," Wong said in a note to clients.
"In particular, we think Westinghouse has a pole position within the nuclear industry with a ubiquitous nuclear services business, widely considered large reactor design in the AP1000, and a mutually beneficial partnership with Korean nuclear builders," the analyst said.
"Cameco's uranium mines are also considered low-cost tier 1 assets that continue to operate well."
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
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