BMO BMO’s Alexander Pearce resumed coverage of Cameco Corp. with a $68 target, up from $42, and an “outperform” rating. The average is $64.20.
“A year on from first announcing the deal, Cameco’s acquisition of Westinghouse is complete,” said Mr. Pearce. “A lot has changed since we last wrote on the stock, with uranium now at decade highs (up 53 per cent) and momentum for low carbon nuclear generation and security of supply increasingly important for utilities and governments. In a sector with a limited number of producers, we think Cameco’s advantageous geographical production base, its position as the largest and most liquid uranium stock, as well as attractive EBITDA growth, should support further upside to its stock price.”