Bruce A4 news
Globe says Bruce gives Cameco, TransCanada more spark
TransCanada Corp TRP
Shares issued 480,193,991 Aug 21 close $24.80
Fri 22 Aug 2003 In the News
See (CCO) In the News
The Globe and Mail reports in its Friday, Aug. 22, edition that the startup
of two long-mothballed reactors at Bruce Power will generate some badly
needed electricity for Ontarians. The Globe's John Heinzl writes that it
could also provide some juice to the shares of Cameco and TransCanada,
analysts say. Bruce Power, in which Cameco and TransCanada each hold a
31.6-per-cent interest, obtained approval from the Canadian Nuclear Safety
Commission this week to power-up Unit 4 at its Bruce A generating station.
Unit 4 is expected to be at full power by the second half of September,
pumping out 750 megawatts of electricity -- enough for a city of 500,000.
Bruce Power aims to have its Unit 3 reactor up and running about one month
later. The startup "is positive for TransCanada says UBS Warburg analyst
Andrew Kuske. He rates TransCanada "buy," saying Bruce Power "will likely
generate considerable returns for" the company over the long term. BMO
Nesbitt Burns analyst Karen Taylor, however, calls the Unit 4 startup a
neutral event. Canaccord Capital analyst Greg Barnes raised his rating on
Cameco shares to "buy" from "hold" and boosted his 12-month target price to
$52.50 from $47.
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For those that haven't heard.