BMO Capital Markets on Tuesday maintained its outperform rating on the shares of Cameco (CCO.TO, CCJ) while raising its price target to C$110.00 from an undisclosed prior level following the company's second-quarter results.
"Cameco's Q2/25 update was largely in line with our expectations, with Westinghouse and uranium targets reiterated.
While the company flagged risks to McArthur River uranium production this year, we think the risk is for only a modest impact to output and makes little difference to our EBITDA (-2%). More significantly, as sentiment for new nuclear continues to improve, the growth outlook for Westinghouse and Cameco remains attractive and the stock should continue to re-rate higher. Thus, our target price increases to C$110," analyst Alexander Pearce 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: 102.36, Change: +1.73, Percent Change: +1.72
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