Stifel Canada on Tuesday reiterated its buy rating on the shares of Cameco (CCO.TO, CCJ) while raising its price target to C$105.00 from C$90.00 after the company's 49% owned Westinghouse nuclear unit received contracts for a Czech nuclear reactor project.

"Cameco announced an expected US$170Mln increase to its 49% equity share of Westinghouse Electric Company's (WEC) Q2/25 adjusted EBITDA and FY25 adjusted EBITDA guidance of US$355-405Mln (or +44.7%). The expected increase is driven by WEC participation in the construction of two nuclear reactors at the Dukovany power plant in the Czech Republic, which recently announced Korea Hydro & Nuclear Power (KHNP) as the preferred bid and whereby WEC announced (January 16, 2025) it had resolved its technology and export dispute with Korea Electric Power Corporation (KEPCO) and KHNP, which resolves the dispute and establishes a framework for additional deployments outside of South Korea, to the mutual and material benefit of WEC, KEPCO and KHNP. The new guidance is expected to be taken into consideration in determining FY25 distributions payable by WEC to Cameco," analyst Ralph Profiti wrote

(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)

Price: 87.05, Change: -4.55, Percent Change: -4.97