stockwatch.com Globe says Cameco maintained at "sector outperform"
2024-08-02 08:08 ET - In the News
The Globe and Mail reports in its Friday, Aug. 2, edition that Scotia Capital analyst Orest Wowkodaw is sticking with his "sector outperform" recommendation for Cameco. The Globe's David Leeder writes in the Eye On Equities column that cut his share target to $81 from $85. Analysts on average target the shares at $76.74. Mr. Wowkodaw says in a note: "Cameco released relatively mixed Q2/24 results. Although 2024 operating guidance was essentially unchanged, the company warned that the outlook at Inkai was becoming increasingly concerning. The five-year uranium contract book continued to creep slightly higher. Overall, we view the update as largely neutral for the shares. We rate Cameco shares 'sector outperform' based on improving fundamentals driven by the dual western world agendas of decarbonization and energy independence." The Globe reported on July 16, that Mr. Wowkodaw continued to rate Cameco "sector outperform." Cameco shares could then be had for $70.22. The Globe reported on July 31 that Canaccord Genuity analyst Katie Lachapelle continued to rate Cameco "buy." Shares could then be had for $61.35